Industrial production in Saudi Arabia rose 8.9% year-on-year in February 2026, slowing from a more than three-year high of 10.8% in the previous month. Growth in oil activities moderated (11.5% vs 13.2% in January), weighed down by slower output in coke and refined petroleum products (5.2% vs 13.0%) and in crude petroleum and natural gas extraction (13% vs 13.3%). Non-oil sectors also decelerated (2.4% vs 4.9%), led by manufacturing (2.8% vs 4.2%) and water supply, sewerage, waste management, and remediation services (8.1% vs 11.8%), while electricity, gas, steam, and air-conditioning supply declined (-3.7% vs 10.2%). On a monthly basis, industrial activity fell 0.2%, after a 0.5% drop in the previous month.