Saudi Aramco stock confronts a wider Asia crude discount

Published on 10/05/2026 at 17:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Saudi Aramco stock faces a USD 5 Asia crude discount for November, versus USD 2 in October. H1 adjusted net income reached SAR 251.9 billion.

Saudi Aramco, SA14TG012N13, Illustration mit AI erstellt.

Saudi Aramco stock (ISIN SA14TG012N13) was last at SAR 25.56 on Tadawul on October 5, 2026, up 0.55 percent from the previous session. The immediate company catalyst is a sharper November discount for Asian crude buyers, while the next results date is November 3, 2026.

Asia pricing turns more competitive

Saudi Aramco set its Arab Light price for Asia at USD 5 per barrel below the Oman and Dubai benchmark for November, compared with a USD 2 discount in October. As Moneycontrol reported on October 5, 2026, traders and refiners had expected a USD 5 increase instead.

The regional split matters for Aramco's margin picture. The company raised November prices for European buyers by USD 3 per barrel and left United States pricing unchanged from October, according to Moneycontrol.

Cash flow cushions the pressure

Saudi Aramco reported adjusted net income of SAR 251.9 billion for the first half of 2026 and free cash flow excluding working capital of SAR 226 billion. The figures come from the company's investor page, which identifies the measures as non-IFRS and dates the half-year results to August 4, 2026.

The company also listed SAR 82.1 billion in base dividend for the second quarter of 2026, up 3.5 percent year over year. Its first-half production totaled 11 million barrels of oil equivalent per day, including 9.1 million barrels per day of liquids, according to Saudi Aramco.

Analysts see room above SAR 30

The consensus shown by Investing.com is Buy from 18 analysts, with an average 12-month target of SAR 30.25, a high target of SAR 35 and a low target of SAR 27. Against the SAR 25.56 last price on October 5, 2026, the average target lies 18.35 percent above the stock.

The counter-factor is operational exposure to shipping routes and regional supply disruptions. Saudi Aramco CEO Amin Nasser said on October 5, 2026, that rebuilding global oil inventories could take two years, while the company is studying additional export routes, as reported by Yahoo Finance.

Stock holds above SAR 25

Saudi Aramco stock was last at SAR 25.56 on Tadawul at 3:19 p.m. AST on October 5, 2026. The session range was SAR 25.30 to SAR 25.72, the 52-week range was SAR 23.29 to SAR 27.96, market capitalization was SAR 6.2 trillion, and volume reached 11,499,467 shares.