Yearly Oil Adjusted for M2

Yearly Oil Adjusted for M2

This chart is updated once a year in February.

M2 is a money supply figure published by the Federal Reserve. All money supply figures are controversial because people do not all agree on what should be included. Nevertheless, this chart is a look at the price of oil adjusted for the amount of money available, as measured by M2. It is calculated by multiplying each oil data point by most current M2 figure and dividing by the M2 figure at the time of the data point. Hence, the nominal and adjusted values for oil are equal in the current year.

Money supply figures and their definitions are available on the website for the Federal Reserve Bank of St. Louis. Yearly data for oil is also available from the Fed.

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