OPEC says ready to call special meeting if needed

VIENNA, Aug 10 (Reuters) OPEC is ready to call an extraordinary meeting ahead of its next scheduled gathering on September 11 if market conditions warrant such a move, the oil exporter group said on Thursday.

''OPEC stands ready to do all in its power to correct any imbalance in the market,'' the organization said in an emailed statement.

It noted that oil prices had hit new highs since BP Plc announced it was cutting output at its Alaska Prudhoe Bay field, the largest in North America.

''The fact is that some of OPEC's producers can bring additional supplies to the market very quickly, if such action is deemed necessary, subject of course to adequacy of refining capacity,'' OPEC said.

''However, for the time being, the Organization remains confident that the world is still adequately supplied with oil and that no shortage will occur. In addition, commercial stocks, especially of crude oil, are more than comfortable in terms of absolute levels of forward cover.'' REUTERS DKS KP2119