BAGHDAD, Sept 7 (Reuters) - Iraqi Oil Minister Hussainal-Shahristani said on Tuesday he saw no big demand for crudeand therefore no reason for OPEC to reconsider its currentproduction levels at its next meeting.
Shahristani said current production levels should bemaintained but OPEC should hold an extraordinary meeting ifworld crude prices fall below $70.
"We have not seen big demand for crude oil. For thisreason, we do not find any reason to reconsider the productionlevels for OPEC at the next meeting," Shahristani toldreporters at a banquet in Baghdad.
The Organization of the Petroleum Exporting Countries' nextmeeting is on Oct. 14 in Vienna.
Shahristani said there was production and consumption"stability" in world markets but the global economic recoverywas slow and urged OPEC members to comply with productioncuts.
"We see that current compliance is only at 50 percent," hesaid. "Most OPEC members have not fully complied with thecuts."
"We are calling on them to comply," he said.
Asked what OPEC should do if prices fall below $70,Shahristani said: "OPEC should hold an extraordinary meeting inorder to decide that members of OPEC should comply with thequotas and the production cut in order to prevent the pricesfrom falling and to keep the current level of prices."
"OPEC should never allow the current prices to fall," hesaid. (Reporting by Ahmed Rasheed, writing by Jim Loney; Editing byMarguerita Choy)


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