The average price of benchmark Brent crude oil averaged US$45 a barrel in 2016, down 17 per cent on 2015 and was 55 per cent below the 2014 average. Photo: Reuters

More upside expected for oil and gas prices, if OPEC deal delivers as promised

2016 proved to be a salutary lesson: not only has energy outperformed the new economy, but ‘old energy’ has outperformed ‘new energy’

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The average price of benchmark Brent crude oil averaged US$45 a barrel in 2016, down 17 per cent on 2015 and was 55 per cent below the 2014 average. Photo: Reuters
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