Tech rules the market📈

Yet Saudi Aramco is still in the Top 10

The only pure oil and gas name left standing

Look at the lineup: NVIDIA, Microsoft, Apple, Alphabet Inc., Amazon, Meta, Broadcom.

And then one outlier. Saudi aramco

2025 has been a rough year for oil.

Prices slid, sentiment collapsed, and energy equities traded like demand is dying tomorrow.

Yet Aramco remains there because it is not priced like a shale producer.

It is priced like a sovereign cash machine.

Low-cost barrels, scale and the ability to outlast the cycle.

What investors are really buying with Aramco

• Control over the marginal barrel in a market where spare capacity still matters
• The lowest-cost oil base at global scale
• Dividends and fiscal leverage that make it central to Saudi policy

If prices stay weak, upstream capex gets cut again, decline rates do not negotiate, supply tightens later.

Here is the optimism.

The same setup that crushed oil in 2025 can become the seed for a rebound if demand holds and non-OPEC growth slows.

If oil has a better year in 2026, do you think we see more energy names back in the Top 10 (ExxonMobil,Chevron, Shell). Or does tech keep absorbing all the market cap oxygen?

#oott