OPEC+ Extends Production Cuts, Brent Crude Jumps 6%

OPEC+ ministers agreed on Sunday to extend voluntary production cuts of 2.2 million barrels per day through the end of the year, defying expectations of a gradual unwind. Brent crude jumped more than 6% at the market open, trading above $92 a barrel. Analysts warn that sustained higher oil prices could complicate central-bank efforts to cut interest rates and reignite headline inflation across advanced economies.