It's impossible to say without knowing what the oncoming traffic situation is.
If I'm riding along a road with no traffic coming the other way, I often ride about 3 ft from the curb, but when I hear someone coming from behind and see someone coming the other way and the road is wide enough, I move closer to the curb so that nobody gets impeded; however, if the road is narrow and it would be dodgy for the car to pass me at speed with a car coming in the opposite direction, I move further out and give the driver plenty of time to adjust his speed so as not to arrive at the point when all three of us are together, though, often, many aren't thinking enough to realise that if they just slow down a bit, they can pass after the oncoming car has passed without losing much time. Instead, they end up braking at the last moment and have to slow down to my speed and wait until its clear, which is annoying and worrying for all three people.
Many of these situations can be solved with just a little bit of thinking ahead. If I see a cyclist that I need to pass and a vehicle coming the other way, I make a plan to avoid passing the cyclist at the same time as the oncoming vehicle, either by speeding up a bit or slowing down, but it seems to me that most drivers don't seem to be able to understand the advantage of that. It's the same with passing parked cars or overtaking on the motorway.
I guess we have to remember that 50% of people are below average intelligence.