Oil traders are experiencing seasonal anxiety, yet experts suggest that demand concerns are overstated. While there are some weaknesses in diesel demand, strengths in gasoline and jet-fuel consumption are notable. Most traders and analysts anticipate that OPEC+ will extend output cuts until the end of 2024, with a meeting scheduled for June 1. The International Energy Agency advises maintaining output restrictions to control crude prices and mitigate inflation risks. The current oil price stands at $83 per barrel. Despite concerns, the balance of risk leans towards a potential increase in demand beyond the International Energy Agency's expectations. Additionally, OPEC+ is aiming to keep prices close to $100 a barrel, while non-OPEC supply, including biofuels, continues to surge.