It’s amazing what 1,000,000 barrels of oil daily will do to change a nomadic monarchy (which has been in power for 250 years). In one generation, they traded in their camels for Rolls-Royces, helicopters, jets, and yachts.
Politically, it is very stable and peaceful. Just last year, United Nations declared it the most improved country in the last 40 years.
Only about 3,000,000 people live in Oman. Economically, the Sultan practices the trickle down theory. They like him.
Internationally, they still have particularly close relations with Iran. They represent it is both for practical reasons, and to help the world peace cause. Recently, this relationship did actually help in the release of some British hostages from Iran.