Oman last month issued a $1.5bn international sukuk, the second debt instrument this year after the jumbo $6.5bn conventional bond raised in January to help plug the budget deficit, which the 2018 annual budget put at $7.8bn. 

But with higher oil prices which averaged $67.2/B until the end of September compared to the original oil price assumption of $50/B, the budget deficit is expected to fall from the original projection. Oman ran an actual budget deficit of $3.39bn through July,...