The United States' emergency oil reserves are now at a dangerous level as President Joe Biden is expected to announce another release from his reserves.
The surge in high oil prices has forced Biden to withdraw oil reserves several times to ease the pressure felt by his people.
As a result, US emergency oil supplies fell to their lowest level since June 1984, when the economy and energy demand were smaller than today.
Even so, Biden still intends to withdraw 15 million barrels from the reserve on Wednesday.
However, there is no need to worry because this production is part of Biden's plan to release 180 million barrels of oil for 6 months to ease the heat of oil prices.
Following news of the release, the black commodity edged lower on Tuesday which saw Brent oil futures trade at $90 a barrel and US WTI at $83 a barrel.
However, the release of the US crude oil supply report which fell by 1.3 million barrels last week slightly helped the price to stabilize again.
