Riyadh, Jan 31, 2026, 17:33 (AST) — Market closed.
- In the session before the weekend break in Saudi Arabia, shares closed up 0.6% at 25.80 riyals.
- Oil held close to multi-month peaks as traders weighed U.S.-Iran tensions ahead of Sunday’s OPEC+ policy meeting.
- Investors are keeping an eye on Saudi crude pricing for March, along with new details about the company’s $4 billion bond.
Saudi Arabian Oil Co (2222) shares ended Thursday’s session on the Saudi market at 25.80 riyals, gaining 0.16 riyal, or 0.62%. (MarketWatch)
The next trade kicks off fast. Saudi stocks reopen Sunday, matching the day OPEC+ delegates indicated the group will probably maintain its March output freeze during their policy review. (Reuters)
Crude prices have climbed back over $70 a barrel, but volatility persists. “It’s really all about Iran right now,” John Kilduff of Again Capital noted, following Brent’s close at $70.69 on Friday. (Reuters)
Outside the equity market, the company released final terms Friday for four tranches of U.S.-dollar notes totaling $4 billion. These include $500 million in 4.000% notes maturing in 2029 and $750 million in 6.000% notes due 2056, according to a regulatory filing. (TradingView)
Riyadh’s final cash session saw investors favoring energy stocks. The Saudi benchmark slipped 0.7% Thursday, but Saudi Aramco rose 0.6% alongside a rally in crude prices, Reuters reported. (Reuters)
One more immediate swing factor lies beyond the equity markets: Saudi Arabia’s March official selling prices. These monthly benchmarks determine what many Asian refiners pay for Saudi crude. Trade sources told Reuters they anticipate Arab Light will be priced at a discount to the Oman/Dubai benchmark, with the prices usually announced around the fifth of the month. (Reuters)
This hits Aramco hard since its official price shifts usually set the tone for regional crude costs and refining profits. A discount often points to weaker immediate demand, despite headline futures being pushed up by geopolitical tensions.
The oil rally is now bumping up against a growing concern: oversupply risk. A Reuters poll of analysts projects Brent crude to average $62.02 per barrel in 2026, while U.S. crude is expected to come in at $58.72. Norbert Ruecker from Julius Baer cautions that “the oil market appears to be in a lasting surplus.” (Reuters)
Aramco shares face a packed schedule: the Saudi market opens Sunday, OPEC+ will announce its March supply decision, and the kingdom’s March crude prices should be set by Feb. 5.
Investors also have a firm date to note: the company’s FY 2025 results are set for release on March 10. (Aramco)
