• Brent oil rose above $90 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.
• Russia’s Deputy Prime Minister Alexander Novak announced in a separate statement that his country’s export reduction of 300,000 barrels a day will be extended for the same duration — the latest sign that Riyadh and Moscow are in lockstep on oil policy.