Kuwait's 2010/11 budget to assume oil at $45 - paper

* username: rupertbu

OPEC member Kuwait is expected to base its 2010/11 budget on a crude oil price of $45 a barrel, up 28.6 percent from the price used in the previous fiscal year, a newspaper reported on Monday.

In the 2009/10 fiscal year which ends in March, the world's fourth-largest oil exporter assumed its main revenue earner would fetch $35 a barrel.

A government's budget committee raised the price to $45 after the approval of the government's development plan, al-Watan newspaper said in an unsourced report.