bhge 2017 form 10-k | 27 the short term .we do , however , view the long term economics of the lng industry as positive given our outlook for supply and demand .2022 refinery , petrochemical and industrial projects : in refining , we believe large , complex refineries should gain advantage in a more competitive , oversupplied landscape in 2018 as the industry globalizes and refiners position to meet local demand and secure export potential .in petrochemicals , we continue to see healthy demand and cost-advantaged supply driving projects forward in 2018 .the industrial market continues to grow as outdated infrastructure is replaced , policy changes come into effect and power is decentralized .we continue to see growing demand across these markets in 2018 .we have other segments in our portfolio that are more correlated with different industrial metrics such as our digital solutions business .overall , we believe our portfolio is uniquely positioned to compete across the value chain , and deliver unique solutions for our customers .we remain optimistic about the long-term economics of the industry , but are continuing to operate with flexibility given our expectations for volatility and changing assumptions in the near term .in 2016 , solar and wind net additions exceeded coal and gas for the first time and it continued throughout 2017 .governments may change or may not continue incentives for renewable energy additions .in the long term , renewables' cost decline may accelerate to compete with new-built fossil capacity , however , we do not anticipate any significant impacts to our business in the foreseeable future .despite the near-term volatility , the long-term outlook for our industry remains strong .we believe the world 2019s demand for energy will continue to rise , and the supply of energy will continue to increase in complexity , requiring greater service intensity and more advanced technology from oilfield service companies .as such , we remain focused on delivering innovative cost-efficient solutions that deliver step changes in operating and economic performance for our customers .business environment the following discussion and analysis summarizes the significant factors affecting our results of operations , financial condition and liquidity position as of and for the year ended december 31 , 2017 , 2016 and 2015 , and should be read in conjunction with the consolidated and combined financial statements and related notes of the company .amounts reported in millions in graphs within this report are computed based on the amounts in hundreds .as a result , the sum of the components reported in millions may not equal the total amount reported in millions due to rounding .we operate in more than 120 countries helping customers find , evaluate , drill , produce , transport and process hydrocarbon resources .our revenue is predominately generated from the sale of products and services to major , national , and independent oil and natural gas companies worldwide , and is dependent on spending by our customers for oil and natural gas exploration , field development and production .this spending is driven by a number of factors , including our customers' forecasts of future energy demand and supply , their access to resources to develop and produce oil and natural gas , their ability to fund their capital programs , the impact of new government regulations and most importantly , their expectations for oil and natural gas prices as a key driver of their cash flows .oil and natural gas prices oil and natural gas prices are summarized in the table below as averages of the daily closing prices during each of the periods indicated. .
[['', '2017', '2016', '2015'], ['brent oil prices ( $ /bbl ) ( 1 )', '$ 54.12', '$ 43.64', '$ 52.32'], ['wti oil prices ( $ /bbl ) ( 2 )', '50.80', '43.29', '48.66'], ['natural gas prices ( $ /mmbtu ) ( 3 )', '2.99', '2.52', '2.62']]
brent oil prices ( $ /bbl ) ( 1 ) $ 54.12 $ 43.64 $ 52.32 wti oil prices ( $ /bbl ) ( 2 ) 50.80 43.29 48.66 natural gas prices ( $ /mmbtu ) ( 3 ) 2.99 2.52 2.62 ( 1 ) energy information administration ( eia ) europe brent spot price per barrel .

Question: what is the growth rate in brent oil prices from 2016 to 2017?
Answer: 24.0%