Palestinian guerrilla chief Yasser Arafat met here today with Kuwaiti leaders and officials of the Palestine Liberation Organization to brief them on his talks earlier this week with King Hussein over Jordan's possible participation in U.S.-sponsored peace talks.

There was no further indication today whether Arafat and the king were closer to reaching an agreement or whether the two had come to an impasse that will have to be resolved at an extraordinary Arab summit planned for later this month, probably in Fez, Morocco.

Yasser Abd Rabbo, a PLO executive committee member, said in an interview today with the Kuwaiti news agency that the organization still refused to accept "any amendments to the Arab peace formula endorsed by last year's Fez summit conference, if such modifications infringe on the basic rights of the Palestinian people."

He indicated that these rights include an independent Palestinian state and the involvement of the PLO as the sole legitimate representative of the Palestinian people in any new Middle East peace negotiations.

"The forthcoming Arab summit," he said, "is requested to promote the Fez resolutions and not to relapse backward . . . . We will urge the Arab leaders at the summit to agree on a common stand toward U.S. policy and not to compromise."

Arafat and King Hussein have been discussing a possible compromise between the Fez plan, which calls explicitly for an independent Palestinian state and recognition of the PLO as the Palestinians' sole representative. The plan proposed by President Reagan, which rules out such a state and proposes instead a Palestinian entity associated with Jordan, while mentioning no role for the PLO in peace talks.

Despite Rabbo's repetition of the official PLO stand tending to rule out any compromise, the Palestinian news agency Wafa today repeated Arafat's statement upon arrival here yesterday that "there are no obstacles which hinder reaching an accord with Jordan."

Indications were that militants and moderates within the PLO have now begun to lobby for their respective positions in expectation that the issue will not be resolved before another Arab summit is held.

Meanwhile, Arafat, after meeting with Kuwaiti leader Sheik Jabir Ahmad Sabah and other top officials, today continued his talks with a number of Palestinian leaders who have gathered here. These include the number two PLO leader, Salah Khalif (Abu Iyad); the third-ranking official, Khalil Wazir (Abu Jihad); Khalid Hassan, a top political adviser, and Nayef Hawatmeh, head of the Marxist Popular Democratic Front for the Liberation of Palestine, who reportedly arrived here tonight.

Arafat is reported to be planning to travel Thursday to Saudi Arabia before returning to Amman for further talks with King Hussein, possibly this weekend.