PARIS (Reuters) - Europe's main stock markets rose moderately in early trading on Monday, with oil companies benefiting from the sharp rise in crude oil prices following OPEC+'s decision to cut production.

In Paris, the CAC 40 gained 0.33% to 7,346.65 points at 07:47 GMT. In London, the FTSE 100 gained 0.58%, while in Frankfurt, the Dax was down 0.03%.

The latter gained 0.7% on Friday, thanks to the easing of fears about the banking sector and the slowdown in US and eurozone inflation.

But price uncertainties have resurfaced in the wake of OPEC+'s unexpected decision to cut oil production, sending crude prices soaring and increasing the likelihood that central banks will maintain a restrictive policy for longer.

"Whatever the political and geopolitical motivations, the timing and scale of the production quota cut announced by Opep dominate the first session of April and the second quarter", commented analysts at Société Générale in a note.

"Investors are immediately drawing conclusions from a rise in inflation and the complications this could entail for central banks in their fight against inflation", they add.

Brent crude gained 5.36% to $84.17 a barrel, while US light crude gained 5.39% to $79.75 a barrel.

The energy sector benefited from the rebound, gaining 3.68%. Shell, BP and TotalEnergies advanced from 3.9% to 4.34%.

Conversely, air transport stocks were penalized: Ryanair lost 2.82% and Air France-KLM 1%.

(Laetitia Volga, edited by Kate Entringer)