UPDATE 2-OPEC says too early for any action on oil after Saudi attacks

* IEA, OPEC chiefs discuss oil market
* UAE says it's still early for emergency OPEC meeting
* Non-Saudi OPEC spare capacity mostly in UAE, Kuwait -IEA
* Too early for any OPEC talks on raising output -source

(Adds UAE quote, context)
By Rania El Gamal, Stanley Carvalho and Alex Lawler
DUBAI/LONDON, Sept 16 (Reuters) - OPEC is assessing the
impact on the oil market from attacks on Saudi Arabian
facilities and says it is too early for members to take any
action on raising output or holding a meeting, the UAE energy
minister and other sources said.
Oil surged on Monday to almost $72 a barrel, posting its
biggest intra-day percentage gain since the Gulf War in 1991,
after an attack on Saturday shut more than 5 million barrels per
day (bpd) of output, or over 5% of global supply. O/R
The United Arab Emirates' energy minister said his country
was able to boost output to deal with any supply disruptions,
but it was too early to call for an emergency meeting of the
Organization of the Petroleum Exporting Countries.
"We have spare capacity. There are volumes we can deal with
as an instant reaction," Suhail al-Mazrouei told reporters in
Abu Dhabi on Monday.
Before the attack, OPEC had been focusing on boosting
adherence to a supply-reduction pact with Russia and other
non-members, known as OPEC+. OPEC has been over-delivering on
the pledge and Mazrouei said that, while spare capacity is
there, the UAE would stick to its quota.
"The UAE remains committed to its production target under
the OPEC+ agreement," he said. If Saudi Arabia called for an
OPEC emergency meeting, "we will deal with it."
OPEC Secretary General Mohammad Barkindo discussed the oil
market with the head of the International Energy Agency, Fatih
Birol, on Monday after the attacks on Saudi oil facilities, an
OPEC source told Reuters.
The two men expressed their satisfaction that "the situation
has been brought under control by the Saudi authorities," and
agreed to continue to monitor the market and keep in regular
contact over the next couple of days, the OPEC source said.
With global oil inventories plentiful and no signs of a
shortage yet, OPEC does not need to formally discuss taking any
action for now, two other OPEC sources said.
"It's still early to talk about it," one of them said.
OPEC members and non-members including Russia agreed in
December to reduce supply by 1.2 million bpd from Jan. 1 this
year. OPEC's share of the cut is 800,000 bpd, to be delivered by
11 members and exempting Iran, Libya and Venezuela.
The extent of any action OPEC excluding Saudi Arabia could
take to boost supplies is limited, said a third OPEC source.
Saudi Arabia as the top OPEC producer holds the bulk of its
unused production capacity.
Nonetheless, other members including the UAE, Kuwait and
Iraq have as much as 940,000 bpd of spare capacity that they
could bring on to the market, according to IEA figures.
Most of that volume - 620,000 bpd - is in the UAE and
Kuwait, the IEA figures show.
Iran holds extra capacity but this is not counted by the IEA
due to U.S. sanctions keeping most of its oil exports off the
market.