Oil prices rise as traders watch OPEC+ supply talks

Oil prices moved higher on Friday as investors tracked the latest OPEC+ discussions on August production targets. Brent crude gained 0.4% to $84.12 a barrel, while U.S. West Texas Intermediate rose 0.5% to $79.88.

The modest advance reflected market caution rather than a strong bullish shift. Traders are weighing whether the producer alliance will keep supply tight or adjust output to respond to demand conditions and recent price moves.

Energy markets have remained sensitive to signals from major exporters, especially when decisions could affect global inventory levels and near-term pricing. Even small changes in planned production can quickly influence sentiment across the crude market.

For now, investors appear to be waiting for clearer guidance from OPEC+ before making a bigger directional bet. The next round of supply decisions is likely to remain a key driver for oil prices in the days ahead.