Oil prices moved slightly higher on Friday as traders waited for the next OPEC+ ministerial meeting and possible signals on production policy. Brent crude climbed 0.3% to $78.45 a barrel, while U.S. West Texas Intermediate rose 0.2% to $74.90.

The market remained cautious ahead of the group’s decision on output, with investors watching for any change that could affect global supply balances in the weeks ahead. Even small adjustments from major producers can move prices quickly, especially when demand expectations remain uncertain.

Traders are also weighing broader energy-market pressures, including geopolitical risk, summer fuel demand and the outlook for inventories. With supply policy still unresolved, oil futures held close to recent levels rather than making a larger move.

The coming meeting is likely to set the tone for the market in the near term, as participants look for clues on whether producers will defend prices or allow more barrels into the market.