J. Barkley Rosser — I Told You So On Oil Prices

… a week ago here I called a bottom to the oil price decline before anybody else in the world did, and it has held, with the price fluctuating between $44 per barrel and $51 per barrel. My post simply reminded the world what most of it had paid no attention to that the Saudis had publicly stated that they were planning their budget on the basis of a world oil price between $45 and $50 per barrel…

As Warren Mosler says, the swing producer is the price setter.

Econospeak
I Told You So On Oil Prices
J. Barkley Rosser | Professor of Economics and Business Administration James Madison University