BRENT CRUDE OIL: Chart to watch for inflation progress

Brent is up 20% since the last 6 weeks (from 28.06.23) ever since OPEC+ extended production cuts to 2024 recently. theguardian.com/business/2023/jun/04/opec-to-extend-cuts-in-oil-output-into-2024-as-prices-flag

Would this lead to an upward pressure on the coming months?