Brent crude edged lower on Thursday, trading near $74 a barrel as investors balanced the prospect of higher supply from OPEC+ producers against signs of weaker demand in China.

The market has been watching for clues on whether the alliance will keep barrels flowing at current levels or add more output in the months ahead. Any increase could add pressure to prices at a time when traders are already concerned about the pace of global consumption.

China remains a key focus for energy markets, with softer economic signals from the world's largest oil importer raising doubts about near-term demand growth. That combination of supply uncertainty and cautious demand expectations has kept crude prices under pressure.

Oil markets have been volatile this year as traders weigh production policy, macroeconomic data and the broader outlook for global growth. For now, the balance of those forces is keeping Brent below recent highs.