Oman, Britain’s closest political ally in the Middle East, faces a potential economic catastrophe from the collapse in crude oil prices which have come at an uncertain time for the sultanate and its ailing ruler.
The country, which holds a strategic position at the gateway to the Persian Gulf, has seen the value of its main export plummet this year, while the cost of producing oil from its ageing wells has shot up. Oil and gas account for about 75pc of Oman’s government revenues and its state budget is based on the price remaining at levels above $85 per barrel.

UK's key Gulf ally Oman faces catastrophe from Opec oil price war - Telegraph