UAE says no extraordinary OPEC meet planned: TV

DUBAI (Reuters) - OPEC has no plans at the moment to hold an extraordinary meeting before the next scheduled meeting in September, the OPEC governor of the United Arab Emirates said on Sunday.

"Until now the (next) meeting is set for September. Before that there is nothing planned so far," Ali al-Yabhouni told Al Arabiya television.

The surge in oil prices last week to fresh record highs was due to speculation rather than a shortage in supply, Yabhouni said.

OPEC does not react to oil price movements when fundamentals are balanced, he added.

"OPEC does not look at prices. We look at market fundamentals; supply, demand and inventories," he said.

(Reporting by Inal Ersan; Editing by Simon Webb)