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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.
document fetched 2026-10-31 02:55 · canonical https://semafor.com/article/10/30/2026/oman-stands-out-amongst-gulf-markets-weathering-disruption