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Oil prices up after Russia, Saudi Arabia extend supply cuts
Russia and Saudi Arabia have extended their oil production cuts until the end of the year. The decision pushed crude oil futures to a 10-month high of 90 dollars for the first time in 2023. Many economies have been raising interest rates to combat inflation, and analysts were expecting monetary policy loosening by the year's end. But the oil cuts could force central banks to remain hawkish. Reagan Des Vignes has more.
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