Oil prices moved higher on Monday as traders watched for signals of tighter supply ahead of next week’s OPEC+ meeting. Brent crude futures climbed 0.4% to about $78.60 a barrel in early trading, reflecting fresh caution in energy markets.

The modest increase came as investors weighed whether the producer alliance could leave output policy unchanged or signal adjustments that would affect global crude flows. With supply expectations still uncertain, the market remained sensitive to any indications of tighter balances.

Energy traders also continued to assess broader demand and inventory trends, but the focus stayed on the upcoming meeting and its potential impact on prices. Even a small shift in production guidance could move markets that have been highly reactive to supply news.

For now, the gains were limited, suggesting traders are waiting for clearer direction before taking larger positions. The next OPEC+ decision is likely to set the tone for oil markets in the near term.

Supply concerns

Oil prices rise as traders eye OPEC+ supply signals