Riyadh, Feb 1, 2026, 17:33 GMT+3 — The market has closed.
Shares of Saudi Arabian Oil Co (2222) fell 2.4%, ending Sunday at 25.18 riyals. Trading volume hit roughly 9.5 million shares on the Saudi Exchange. (MarketScreener)
Saudi Arabia’s benchmark index (TASI, the Tadawul All Share Index) dropped 1.9%, marking its steepest intraday decline since April. The slide came amid rising concerns over potential U.S. military action against Iran. Ayatollah Ali Khamenei warned that any American strike would spark a regional conflict. Meanwhile, Washington has bolstered its naval forces following repeated warnings from Donald Trump, the report said. (Reuters)
This is significant for Aramco, as it ranks among the market’s largest components and a crucial dividend provider for local investors. When risk appetite falls in the region, the stock tends to move more on sentiment than on crude oil fundamentals.
Oil is charting its own course. OPEC+ — led by Saudi Arabia and Russia — has tentatively agreed to maintain current output levels through March, according to a draft statement and sources who spoke with Reuters. Eight core members are set to meet later Sunday to finalize the decision. Brent crude ended Friday just shy of $70 a barrel, near the six-month peak of $71.89 touched the day before, despite ongoing debate over whether an oversupply in 2026 might weigh on prices. (Reuters)
On Feb. 1, Aramco’s shares fluctuated from 25.16 to 25.78 riyals, according to Investing.com. The stock’s 52-week range stands at 23.04 to 27.85. (Investing)
Some investors are closely tracking whether the new foreign-access rules will impact the flow of capital immediately or remain largely theoretical. “This rally comes ahead of foreign participation,” Hamad Al-Olayan, CEO of Villa Capital, told Asharq Al-Awsat. Mohamed Hamdy Omar, CEO of G World, described the change as “a historic step.” (Aawsat)
The next moves remain unpredictable. Signs of easing tensions between Washington and Tehran might strip oil of its geopolitical premium, weakening support for Aramco. On the other hand, any escalation could keep regional equities under strain, even if crude prices stay steady.
Monday’s session will center on the OPEC+ decision and how oil prices respond, with traders also watching weekend headlines about U.S.-Iran tensions. Early indications on whether foreign investors step up or hold back will be key.
Aramco’s next major event is its full-year 2025 results, scheduled for March 10, per the company’s financial calendar. Investors are closely watching that date for dividend cues and other key updates.
update on spending plans. (Aramco)
