The hypothetical NGL barrel ended 2016 on 25-month highs at both the Mont Belvieu, Texas, and Conway, Kan., hubs as crude oil prices floated in the mid-$50 per barrel (bbl) range on hopes that OPEC members won’t cheat on their production quotas.

“It may take several months before the market can tell if there are definite trends of cheating,” noted En*Vantage in its weekly report, “because the quotas are meant to be an average of production over the six months of the deal.”

While the NGL barrel remains nowhere near its mid-$80s zenith of 2008, it broke $27/bbl at both hubs in December, a 17.5% jump over November and a 53.3% increase over December 2015 at Mont Belvieu. At Conway, the one-month rise was 18.5%, with a 61.2% year-over-year (yoy) increase.