The IEA may have revised down their oil demand estimates for the third quarter of this year, but looking further ahead both OPEC and IEA expect demand to bounce back despite fear of potential new lockdowns and new variants. As for Brent crude, the current pressure on prices could soon cease amid a strong improvement in refinery margins.

In this episode of the Oil Markets Podcast, S&P Global senior editors Robert Perkins and Emma Kettley discuss with Eklavya Gupte what is currently holding back Brent prices and when is global oil demand expected to recover.