Saudi Arabia in February 2026: the most important developments in economy
In Saudi Arabia in February 2026, economic news centred on oil and tensions with Iran. On February 3 Russian President Vladimir Putin and Crown Prince Mohammed bin Salman discussed OPEC+ cooperation and global energy markets in a phone call, according to the Kremlin. By February 27 Gulf producers had raised crude exports amid a growing risk premium tied to Iran, and OPEC+ was expected to resume production increases at its meeting on Sunday. On February 28 OPEC+ was reported to be considering a larger increase. Separately, Saudi Aramco halted liquefied petroleum gas exports on February 26 after an accident at a terminal. Earlier in the month Aramco raised $4 billion in a bond sale amid strong investor demand.
Investment and business activity ran across several sectors. A Saudi-Turkish investment forum opened in Riyadh, where the two countries signed a $2 billion agreement for solar and wind projects. A Saudi artificial intelligence company invested $3 billion in Elon Musk's xAI. Saudi Arabia announced plans to invest in a new private airline in Syria and launched an initiative to attract investment in building materials. The subscription period for the initial public offering of the Saudi Railways Company closed, and STC Group reported a net profit of 14.83 billion riyals for 2025. The Saudi ports authority formed a partnership with Mwani Qatar, and Saudi Arabia pledged $346 million in aid to Yemen.
by WorldBrief & Maksim Micheliov | AI-generated summary
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