Brent Oil Hits $90 a Barrel After OPEC+ Extends Supply Curbs

Brent oil rallied to $90 a barrel for the first time since November as key OPEC+ producers extended supply cuts that have tightened the crude market.

Saudi Arabia extended its unilateral production cut by another three months as the kingdom seeks to support a fragile global market. T

The move will hold output at about 9 million barrels a day, the lowest level in several years. Russia said it would curb 300,000 barrels a day of exports through year end, aligning with Riyadh.

Crude’s latest upswing has been driven primarily by output cuts from Saudi Arabia and Russia that have helped to drain global inventories.