Brent oil surged past $US90 a barrel for the first time since November as the largest OPEC+ producers extended their supply cuts to year-end.
In a move that risks a fresh inflationary impetus for the global economy, Saudi Arabia will continue its unilateral production cutback of 1 million barrels a day until December, according to a statement on the state-run press agency. The move will hold output at about 9 million barrels a day – the lowest level in several years – for six months in total.
