OPEC has maintained its production quota ceiling at 28 mln barrels per day and is ready to cut output next month if demand slumps, ministers said at a meeting of the cartel in Kuwait. OPEC will hold an extra meeting on Jan 31 in Vienna to discuss second quarter demand, the cartel's president, Kuwaiti Oil Minister Sheikh Ahmad Fahd al-Sabah, announced. The organisation is ready to cut output at that time if demand falls too much, Libya's Energy Secretary Fathi Hamed bin Shatwan and his Qatari counterpart said. OPEC today also decided not to renew its offer, made in the wake of hurricane disruption in the US, to provide emergency extra output of 2 mln bpd, Sheikh Ahmad said. "We decided not to renew the two million (offer). It will be ended - as was decided in September - on 31 December," he said, noting that, if necessary, the group remains ready to re-introduce the measure, which has not been taken up. "We (also) decided that we can have a meeting at the end of Janury 31 in Vienna to monitor the market and to know exactly what will be the situation of the second quarter."