It is the 30th of March 2017

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US Bans Laptops, iPads, 'Anything Bigger Than A Cellphone' On Flights From 13 Countries

U.S. government officials have temporarily banned most electronics (including laptops, iPads, and Kindles) on certain flights into and out of the country, according to Jordan’s national air carrier.

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Assad Calls US Forces In Syria "Invaders", Loses Faith In Trump

With the Trump administration rapidly shifting its foreign policy stance in recent weeks as the Goldman-led group inside the White House steamrolls all opposition, in the process dashing hopes of a detente between DC and Moscow which now appear set to continue the "cold war" diplomatic ways set under Obama and Hillary Clinton, another foreign leader who is losing faith that Trump will bring any notable change is Syrian President Bashar al-Assad, who in an interview with Chinese TV station Phoenix said U.S. forces in Syria were "invaders" and that he had yet to see "anything concrete" emerge from U.S. President Donald Trump's vow to prioritize the fight against Islamic State.

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The US Motorist Is Unwell: Miles Driven Suffer Biggest Slowdown In Over 2 Years

While the media continues to blast the occasional OPEC production-related headline, the reality is that crude supply is increasingly becoming a shale story, as the US, now tens of billions in debt lighter - has rapidly emerged as the low-cost, marginal oil producer. As such absent a sharp rebound in prices in the coming 3 months, OPEC is almost guaranteed to revert to its prior production regime, as Saudi Arabia is already pained by the loss of market share to increasingly lower cost US producers, who as shown in the charts below, have seen their all-in production costs plunge thanks to rapid technological advancement.

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US Shale Production To Soar By 3.5 Million Barrels/Day Over Next Five Years: BofA Explains Why

Two years ago, when Saudi Arabia launched on an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last year's attempt to cut production), it made a bold bet that US shale producers would be swept under when the price of oil tumbled, leading to a tsunami of bankruptcies, as well as investment and production halts. To an extent it succeeded, but where it may have made a glaring error is the core assumption about shale breakeven costs, which as we reported throughout 2016, were substantially lower than consensus estimated.

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