Oil prices were steady on Monday, holding near multi-week highs as markets waited for a fresh signal from OPEC+ on future production levels. Brent crude hovered around $78 a barrel after last week’s sharp gains, with traders reluctant to make big moves before the group’s decision.

The latest price strength reflects a market that remains sensitive to supply expectations and broader energy demand trends. Investors are watching closely for any indication that producers may adjust output, a move that could either reinforce current price levels or trigger a pullback.

For now, trading appears cautious. The anticipation around OPEC+ has kept crude supported, but analysts say the market could turn quickly once the alliance outlines its next step. Until then, oil prices are likely to stay tied to speculation rather than a clear supply shift.