Oman will amend its 2009 budget to assume an average oil price of $45 a barrel following a sharp decline of around $100 in international crude prices since July.

Oman's official news agency said the Gulf Arab oil producer's council for financial affairs and energy resources agreed at a meeting to amend the oil price assumed in the budget.

'The council agreed the amendments, the most important of which is to calculate oil revenues based on an average of $45 a barrel in line with the recent developments in the oil markets represented by a significant decline in the price of oil compared to the level reached in the first half of the year,' the statement said.

It did not say what the previous oil price assumed in its 2009 budget was. Oman is a small oil producer and is not a member of Opec.-Reuters