THE CHRISTIAN/SHI'A AXIS:

Saudi Arabia is losing its grip on big oil markets it once dominated amid a deep production cut that has reshaped global petroleum trade routes and benefited rivals like Iran, Russia and the U.S.

To stomach a steep production cut aimed at putting a floor under oil prices CLJ7, +0.64%  , the world's biggest crude exporter is conceding ground to American shale producers and hastening a retreat from the U.S., people familiar with current Saudi policy said.

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