The term "Oman" has multiple meanings depending on its context.
1) Oman is a country located in Southwest Asia, bordered by Saudi Arabia to the west and Yemen to the south. It's capital city is Muscat.
2) In a historical context, Oman refers to the region of Oman, which was once an independent sultanate ruled by the Al Bu Said dynasty since 1749. The country gained independence from the British in 1971 and has been governed by Sultan Qaboos bin Said ever since.
3) In a broader context, Oman can also refer to people of Arabian Peninsula descent or those who are ethnically, culturally, or linguistically related to the region of Oman.