Key comments at emergency oil talks in Jeddah

(Reuters) - The world's top oil powers convene an emergency meeting of producers, consumers and big oil executives on Sunday to seek a solution to soaring crude prices.

Producers and consumers have long blamed each other, but the Saudi cabinet, chaired by King Abdullah, issued instructions two weeks ago to bring them together in Jeddah after oil surged by $16 a barrel in just over 24 hours.

Below are comments by ministers and officials in Jeddah, or on their way to the meeting.

IN JEDDAH:

DRAFT COMMUNIQUE

Urges the need to "take the necessary measures to guarantee the stability and permanence of the energy system and raise refining capacities" and "the strengthening of transparency of financial markets having regard to their impact on world petroleum markets," Algeria's official APS news agency reported.

The aim is to "reinforce transparency" and arrive at a better understanding "of the impact of international financial markets on prices and their volatilities".

The document signalled "the need to take steps to collect more information about the actions of investment funds." More information should be gathered about speculators and "unreal judgements about the real price of a barrel of oil and the future of the crude market".

U.S. ENERGY SECRETARY BODMAN: