Higher Oil Prices Could Spark A Fresh Wave Of Inflation

Saudi Arabia and Russia moved with determination to support oil prices, extending their respective ongoing production and export cuts through the end of the year. In an initial response to Tuesday's news, oil prices jumped and hit the highest level so far this year, with Brent Crude prices exceeding the $90 per barrel mark.     The extension of Saudi Arabia's 1 million barrels per day (bpd) cut through December reinforces "the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance…