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- Saudi Arabia's oil exports hit 7.3m bpd; $346.6m flows to Yemen; G42 wins US chip security praise
Saudi Arabia's oil exports hit 7.3m bpd; $346.6m flows to Yemen; G42 wins US chip security praise
Friday, February 27, 2026
Happy Friday everyone!
Saudi Arabia oil exports rose to about 7.3 million barrels per day in February, up more than 400,000 bpd month-on-month, marking the highest level since April 2023 as geopolitical risks reshape supply expectations.
Separately, Riyadh transferred $346.6 million (SAR 1.3 billion) through the Saudi Program for Development and Reconstruction of Yemen to help Yemen’s government cover public-sector salary shortfalls and stabilise state finances.
Meanwhile, Abu Dhabi-based G42 secured strong endorsement from US undersecretary Jacob Helberg after implementing chip-tracking safeguards aligned with Washington’s export controls, strengthening UAE access to advanced AI semiconductors.
Markets
EGX30 | 49,212.83 | 0.41% |
DFMGI | 6,624.93 | 0.76% |
ADX | 10,595.29 | 0.40% |
Tadawul | 10,709.04 | 1.28% |
Saudi oil exports surge to three-year high as geopolitical risks reshape supply outlook
What Is It About?
Saudi oil exports hit three-year high as global tensions keep markets guessing, with shipments reaching about 7.3 million barrels per day in February, the strongest level since April 2023. Data compiled by Bloomberg shows exports rose more than 400,000 barrels per day from January, highlighting how quickly supply volumes can shift.
Why It Matters?
The increase reinforces Saudi Arabia’s central role as the world’s swing producer, capable of stabilising markets during geopolitical uncertainty. With traders monitoring signals from Donald Trump regarding potential moves involving Iran, higher Saudi exports could offset disruption risks and influence global oil prices.
What’s Next?
Markets will watch whether elevated export levels persist or respond to diplomatic shifts and demand trends. Analysts expect Saudi output decisions to remain closely tied to geopolitical developments, price stability goals, and broader supply coordination.
Saudi Arabia injects $346.6m into Yemen to stabilise government finances and prevent salary collapse
What Is It About?
Saudi Arabia pays Yemeni government $346.6m to meet salary shortfall, delivering 1.3 billion SAR to cover overdue public-sector wages. The support, ordered by King Salman and Mohammed bin Salman, was channelled through the Saudi Program for Development and Reconstruction of Yemen to stabilise government payrolls in Yemen.
Why It Matters?
The funding underscores Saudi Arabia’s expanding financial role in Yemen’s fragile economy. Public salaries are a critical lifeline supporting consumption, institutional continuity, and basic governance, while preventing deeper fiscal collapse that could destabilise the broader region.
What’s Next?
The payment may ease short-term fiscal pressure, but Yemen’s long-term stability hinges on sustained external backing and structural reforms. Analysts will watch whether Saudi support evolves into broader economic intervention, including institutional rebuilding and private-sector recovery initiatives.
Washington backs G42 chip safeguards as AI supply chain scrutiny intensifies
What Is It About?
Washington praises G42 safeguards for advanced AI chips, after the Abu Dhabi-based tech group outlined a system to track and secure next-generation US semiconductors in its data centres. During a congressional hearing, Jacob Helberg, US undersecretary of state for economic growth, energy and environment, called the measures “unprecedented” and “incredibly positive.” G42 said it will embed monitoring controls to ensure compliance with US export rules.
Why It Matters?
The endorsement signals deepening US-UAE tech alignment amid tighter export controls aimed at preventing AI and semiconductor leakage to China. The hearing also spotlighted the State Department-led Pax Silica initiative, designed to secure AI and critical mineral supply chains against strategic rivals.
What’s Next?
US policymakers may push for similar transparency standards across allied markets. For G42, sustained access to advanced US chips will likely depend on proving that oversight systems deliver the “total transparency” Washington expects.
🦄 World of Startups
Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M
US-based Luma AI is planting its flag in Riyadh — opening a regional headquater
Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play
Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round
Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed
👨💻From Smashi Business’ Desk
HH Sheikh Khaled bin Mohamed bin Zayed met Indian Prime Minister Narendra Modi on the sidelines of the AI Impact Summit in New Delhi.
Humain, the artificial intelligence arm of the Public Investment Fund, invested $3 billion in xAI during its Series E round
Saudi Prince Alwaleed bin Talal’s combined stake across Elon Musk’s companies has reached an estimated $9.2 billion.
🔍In other news…
Shares of India’s IDFC First Bank, backed by the Abu Dhabi Investment Authority (Adia), slumped as much as 20 percent on Monday after the private lender disclosed suspected fraud amounting to 5.9 billion rupees ($65 million) over the weekend.
Etihad Airways profits soars nearly 50% as fleet, network expansion support strong demand
Saudi Arabia records largest budget deficit since Covid
World Bank allocates $50m for transportation projects in Syria
Neom uncertainty leaves $10bn joint venture in limbo
Mexico is preparing to expand its trade ties with Saudi Arabia by exporting high-quality rice to the Kingdom, sources told Asharq Al-Awsat.
Adia backs India’s Clean Max IPO as anchor investor
🗓️ Plan Your Events (March-April 2026)
UAE
31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.
7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.
13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.
14-16 April: (Tuesday-Thursday): the International Property Show, Dubai World Trade Center.
Saudi Arabia
13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.
20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh
Egypt
30 March – 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).
