OPEC Countries about to Meet

Minister of State for Petroleum resources and President of the OPEC conference Edmund Daukoru from Nigeria talks to media upon his arrival at a hotel in Vienna, on Monday, March 6, 2006, for the upcoming meeting of ministers of the Organization of Petroleum Exporting Countries (OPEC). (AP Photo/Ronald Zak)

VIENNA, Austria -- OPEC's key members said Monday that they would not seek a production cut this week, and that they expected oil prices, now hovering above $60 a barrel, to decline this spring.

Kuwait's energy minister, Sheik Ahmed Fahd al-Ahmed al-Sabah, said oil prices should begin to fall next month assuming the Organization of Petroleum Exporting Countries maintains output at current levels and geopolitical tensions do not worsen. OPEC, which pumps about a third of the world's oil, meets Wednesday in Vienna.

Well wishes,

F. Stanley Boyd

We may well escape a disaster of our own here, in Nova Scotia, if this unusually warm weather continues and oil prices fall, or do not rise. Keep your eyes on Nigeria's output it may be the price trendsetter.