Oman stands out amongst Gulf markets weathering disruption
Saudi Aramco accounted for about 72% of the combined earnings of Tadawul-listed companies in the first half of the year. Oman is the standout among Gulf stock markets that have otherwise struggled this year. Still, as elsewhere, markets are not the economy: The IMF has forecast a 4.8% contraction in the Gulf’s GDP in 2026, but stocks haven’t plunged as much, suggesting stronger-than-expected corporate earnings have supported valuations. Within the relatively thin universe of equities, one name outshines all: Saudi Aramco accounted for about 72% of the combined earnings of Tadawul-listed companies in the first half of the year. Higher crude prices lifted its net profit 33%, and with oil up since Houthi attacks intensified on the kingdom, Aramco may have another strong quarter when it announces its results on Nov. 3.
Saudi Aramco accounted for about 72% of the combined earnings of Tadawul-listed companies in the first half of the year. Oman is the standout among Gulf stock markets that have otherwise struggled this year. Still, as elsewhere, markets are not the economy: The IMF has forecast a 4.8% contraction in the Gulf’s GDP in 2026, but stocks haven’t plunged as much, suggesting stronger-than-expected corporate earnings have supported valuations. Within the relatively thin universe of equities, one name outshines all: Saudi Aramco accounted for about 72% of the combined earnings of Tadawul-listed companies in the first half of the year.
Higher crude prices lifted its net profit 33%, and with oil up since Houthi attacks intensified on the kingdom, Aramco may have another strong quarter when it announces its results on Nov. 3.