FACTBOX: OPEC comments ahead of Sept meeting

(Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) next meets on September 9 in Vienna.

It last met formally in March, although the world's biggest crude exporter Saudi Arabia called emergency talks in Jeddah in June and announced it would unilaterally increase production to try to calm prices.

They went on to hit a record of $147.27 on July 11, but in August fell to a low below $112 a barrel, the weakest level since early May.

Saudi Arabia said it would pump 9.7 million barrels per day (bpd) in July, although industry consultant Petrologistics said the kingdom had only supplied 9.47 million bpd. In August, the consultant expected Saudi Arabia's output to fall to 9.45 million bpd.

Most commentators have predicted OPEC will leave formal output targets unchanged at its September meeting.

In its latest monthly report, released on August 15, OPEC trimmed its forecast for global oil demand growth in 2008 for a fifth month. It said production was more than adequate, meaning there was "potential for a sharp build in crude oil inventories."

But it also said risks of disruption persisted and it would continue to monitor supply and demand in the run up to the September meeting.

IRAN, SEPT 1

Iran's OPEC governor said on Monday the group could agree to cut output because oil prices have fallen.

"In view of the drop in oil prices, there is this possibility that OPEC would approve an output cut in its upcoming meeting in Vienna," Mohammad Ali Khatibi was quoted as saying by the Mehr News Agency.

IRAN, AUG 31

Iran's Oil Minister Gholamhossein Nozari said $100 for a barrel of crude was the lowest appropriate level.

"This is the least price for oil," he was quoted as saying by the ministry website SHANA.

LIBYA, AUG 29

Libya's top oil official said he thought OPEC would hold oil output steady.

"At this point, we do not see necessarily a change," Shokri Ghanem, chairman of Libya's National Oil Corporation, told Reuters. "We will look at the market, whether it is well supplied or not."

VENEZUELA, AUG 28

OPEC could cut output at a meeting in September but will most likely maintain current production levels, Venezuela's Oil Minister Rafael Ramirez said on Thursday.

"We think (inventories) are good, that there is no supply problem," Ramirez told reporters. "Production should be maintained, what is not needed is an increase in production."

A day earlier, he said OPEC should cut production or maintain current levels.

NIGERIA, AUG 21

Oil Minister Odein Ajumogobia told Reuters in an interview Nigeria was waiting for oil prices to stabilize before deciding whether there was any need to adjust production.

"We are going through an unpredictable period, so I think the best thing is to wait and see how it stabilizes, that is our position," Ajumogobia told Reuters.

IRAQ, AUG 21

Iraqi Oil Minister Hussain al-Shahristani said oil supplies could be running slightly ahead of current world demand, but he would not say if that meant OPEC needed to cut output.

"It seems for the time being what is being made available on the market meets the demand or even there is slightly more than demand," he told reporters.

ECUADOR, AUG 12

OPEC's smallest member Ecuador said OPEC did not need to change output and the fall reflected the current reality of oil markets.

"Today's price drop responds to markets' reality and we should respect that reality," Minister Galo Chiriboga told reporters.

OPEC PRESIDENT, AUG 11

OPEC's President Chakib Khelil, who is also Algeria's oil minister, said OPEC members should keep within the group's agreed targets.

"Except for Iraq and new members who are outside the OPEC quota, the rest of the members should produce in the framework of their committed quota," Iran's oil ministry news agency Shana quoted Khelil as saying.

(Compiled by Barbara Lewis and Alex Lawler)