RR The Wire 2330Z November 30, 2023

PRECEDENCE: ROUTINE RR

DTG: 233030Z NOV 23

ICOD: 230030Z NOV 23

CONTROLS: Public Release

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BLUF: CONFLICT CONTINUES IN WEST BANK. DEVELOPMENTS IN POL PRODUCTION INFLUENCE MARKET PRICES.

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-International Events-

Middle East Front: The ceasefire in Gaza continues as fighting increases severity in the West Bank. AC: Conflict in Jenin has remained volatile since the ceasefire began.

OPEC announces a further cutting of production by 1 million BPD. AC: This is in addition to the 1 million BPD production cut already in place until the end of the year. As this information comes on the heels of Brazil’s announcement of joining OPEC+ next year, it is unclear as to how severely the increasing of voluntary production cuts will affect crude prices next year.

South American Front: Tensions flare between Guyana and Venezuela following long-standing territorial disputes in the region. Brazil has reportedly begun moving troops to their border with Venezuela allegedly in response to Venezuelan troop movements near the disputed zone.

-Homefront-

NY: Pro-Palestine demonstrations disrupt the Rockefeller Center Christmas tree lighting ceremony. Initial reports indicate at least two arrests were made.

Washington D.C. – An FBI agent was carjacked by two armed attackers, both of whom remain at large.

-Analyst Comments-

As a reminder, Venezuela has claimed roughly 70% of Guyana’s land mass as being historically integral to Venezuela. The disputed territory is allegedly home to vast petroleum deposits. Though this issue is not new, the recent tightening of OPEC production could inflame tensions in the region even more over the coming months.

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Analyst: S2A

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