Oil prices moved higher on Monday as markets looked ahead to an OPEC+ meeting expected later this week. Brent crude climbed 0.4% to $78.45 a barrel, reflecting investor caution as traders positioned themselves for any shift in supply policy.

The small gain came as the energy market weighed whether the producer alliance could adjust output targets or maintain current levels. Such meetings often move prices because even modest changes in supply guidance can affect expectations across the global oil market.

For now, traders appear to be holding back from making larger bets until the group announces its decision. The outcome will be watched closely by fuel markets, inflation hawks, and economies sensitive to energy costs.

Oil prices have remained reactive in recent weeks as traders balance demand expectations, geopolitical uncertainty, and production policy from major exporters. Any statement from OPEC+ this week could set the tone for the market heading into the next trading stretch.

Opec

Oil prices rise as traders await OPEC+ decision this week