Saudi Shares Plunge as Geopolitical Tensions Flare, OPEC+ Keeps Oil Output Steady

07:51 AM EST, 01/04/2026 (MT Newswires) -- Saudi Exchange-listed shares welcomed the new week deep in the red as geopolitical developments over the recent days weighed on sentiment, bringing the Tadawul All Share Index 1.75% in the red at the close of trading on Sunday. While global markets await further updates on the US' plans after the capture of Venezuelan President Nicolás Maduro, investors at home are focused on talks to de-escalate the tension in Yemen. "The Kingdom of Saudi Arabia welcomes the request of His Excellency the President of the Yemeni Presidential Leadership Council and calls upon all southern factions to actively participate in the conference to develop a comprehensive vision for just solutions to the southern cause that fulfills the legitimate aspirations of the southern people," the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia said in a Jan. 3 statement posted on X. Meanwhile, the eight OPEC+ countries on Sunday decided to keep oil output steady for February and March. Saudi Arabia and the other members noted that the move also reaffirms their commitment to stability in the oil market and "current healthy oil market fundamentals," as shown by low inventories. Against this background, state-owned Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, one of the world's largest integrated energy and chemicals companies and the biggest listed company on Tadawul, ended the session 1.59% lower. Looking ahead at the week, the local calendar will see the release of the December 2025 edition of the Riyad Bank PMI on Monday and the industrial production numbers for November 2025 on Friday. In company news, Scientific & Medical Equipment House Co. (SASE:4014) secured a 24-month project to deliver uncooked catering services for beneficiaries of the Ministry of Human Resources and Social Development's residential branches. Shares of the medical equipment company closed 0.31% higher.