Oil prices were little changed on Monday as traders waited for clarity from this week’s OPEC+ meeting. Brent crude hovered near $77 a barrel, reflecting a market that is holding its breath ahead of any decision on production levels.

Investors are watching whether the producer alliance will keep current output cuts in place or signal a change in supply policy. That uncertainty has kept trading range-bound, with market participants avoiding major bets until the group’s next move becomes clearer.

For now, prices remain supported by expectations that OPEC+ may act to manage supply, but the market is also sensitive to any sign of weaker discipline among members or a broader shift in demand conditions. The result is a cautious tone across energy trading desks.

The meeting later this week is expected to set the tone for near-term oil markets, with traders focused on how the alliance balances price support against the risk of losing market share.