Saudi Shares Extend Winning Streak; OPEC+ Likely to Maintain December Crude Production

08:47 AM EDT, 10/27/2026 (MT Newswires) -- The Tadawul All Share Index ended the Tuesday session 2.30% in the green as investors assessed the latest batch of corporate earnings reports, alongside the geopolitical developments in the Middle East. "There was also some more encouraging news from the Middle East yesterday, although the overall daily move was muted as investors remain wary of extrapolating too much from the latest diplomatic efforts. Senior officials from Saudi Arabia, Turkey and Pakistan - which form the Mecca Defence Alliance - met Iranian representatives in Tehran in the hope of promoting greater regional stability, with state-run IRIB reporting that Iran would support 'any understanding' that strengthened regional unity. That comes after reports last week that the US and Israeli militaries had begun drawing up plans for renewed strikes on Iran," Deutsche Bank Research said. Meanwhile, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, reportedly contained a fire near its oil export terminal at Ras Tanura, media reports said. The Houthi group claimed responsibility for the attack that caused the fire. Aramco shares closed 1.64% higher. In other news, OPEC+ members are expected to keep their crude oil production steady in their Sunday meeting, Reuters reported, citing people with knowledge of the matter, who noted that the decision is not yet final. On the corporate front, Methanol Chemicals Co. (SASE:2001), d/b/a Chemanol, First Milling Co. (SASE:2283), and The National Co. for Glass Industries (SASE:2150), d/b/a Zoujaj, were some of the companies that published their financial earnings for the third quarter. Chemanol and First Milling reported higher revenue for the three months, while Zoujaj logged a decline in sales. Zoujaj's revenue decline was attributed to a lower sales volume. All three stocks closed 8.49%, 7.26%, and 3.63% in the green, respectively.