Breaking down OPEC and its influence
President Trump gave his endorsement to the United Arab Emirates' decision to leave the Organization of the Petroleum Exporting Countries, or OPEC, on Wednesday. "The Daily Report" breaks it down.
OPEC
Gas prices at highest level since Iran war began
Gas prices have surged to their highest level since the start of the U.S.-Israeli war with Iran. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Strait of Hormuz in limbo, UAE to leave OPEC
The Strait of Hormuz remains in limbo amid Iran's latest offer to reach a deal with the U.S. Meanwhile, the United Arab Emirates announced its exit from the Organization of the Petroleum Exporting Countries (OPEC), effective May 1. CBS News' Ramy Inocencio has more.
From the archives: Grappling with the 1973 oil crisis
On Nov. 29, 1973, CBS News aired a special report titled "Making It Through This Winter," spotlighting the ways Americans were making do amid the oil crisis. Watch the program in full.
Oil prices rise sharply in market trading after attacks disrupt supply
Oil prices rose sharply when market trading began late Sunday over concerns that the supply from Iran and elsewhere in the Middle East would slow or grind to a halt.
Gas prices dip below $3 per gallon, the lowest since 2021
The average price across the U.S. now stands at $2.95 per gallon, down 8.5 cents from a week ago, according to GasBuddy.
Trump victory's impact on the energy sector
President-elect Donald Trump vowed to cut U.S. energy prices by 50% within one year of taking office. He is also expected to loosen regulations on oil and natural gas companies. Patrick De Haan, the head of petroleum analysis for GasBuddy.com, a website that tracks fuel prices, joins CBS News to discuss.
War in Middle East driving up oil prices
As the Middle East waits to see how Israel will respond to Tuesday's massive missile attack by Iran, oil prices have risen over the prospect of possible Israeli strikes on Iran's oil facilities. CBS News foreign correspondent Ramy Inocencio has more.
How will OPEC+ cuts affect U.S. gas prices?
Several OPEC+ countries will reduce oil production by a combined 2.2 million barrels per day through June. Jeff Colgan, director of the Climate Solutions Lab at Brown University, joins CBS News to discuss how the decreased output could affect the U.S.
Investors close out 2023 with a stock market gain of 24%
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
Saudi Arabia, Russia move to extend oil cuts could drive up gas prices
Move by two OPEC+ members to continue scaling back crude production likely means higher prices at the pump for U.S. drivers.
Saudi Arabia cutting oil output in move that could raise gas prices
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
OPEC announces cuts to oil production
OPEC unexpectedly announced cuts to oil production. The move will likely increase the price of gas.
Here's what OPEC's production cuts mean for U.S. gas prices
Oil cartel's surprise plan to dial back production will likely push up fuel costs within the next two weeks, analysts say.
OPEC+ decides against further oil cuts
Saudi-led OPEC+ opted not to make any additional changes to oil production as Western sanctions on Russian oil are set to take effect. Evan Halper, a business reporter for the Washington Post, joins CBS News' Vladimir Duthiers and Lilia Luciano to discuss the impact.
OPEC maintains oil targets amid uncertainty over Russian sanctions
The OPEC oil cartel and allied producers including Russia aren't changing their targets for shipping oil to the global economy.
OPEC releases 2022 World Oil Outlook
OPEC estimates show that the world markets could demand more oil for the next decade, despite a push toward renewable energy and electric cars. Tom Kloza, global head of energy analysis at the Oil Price Information Service, joins CBS News to talk about what the projection means and how it could affect suppliers and consumers.
North Korea could test tactical nuclear weapon
North Korean leader Kim Jong-un could soon test a tactical nuclear weapon, according to U.S. and South Korean officials. CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan joins CBS News' John Dickerson to discuss.
Biden vows "consequences" for Saudi Arabia
President Biden said there will be "consequences" for Saudi Arabia after the country, as part of OPEC, sided with other oil producing countries to cut production. CBS News chief White House correspondent Nancy Cordes discussed what those consequences could be.
Ukraine to receive more advanced air defense systems
The White House said Tuesday that Biden has promised to provide Ukraine with more advanced air defense systems. This comes as Russia continues to bombard the country with missile attacks. Meanwhile, the White House also said Mr. Biden is reevaluating the U.S.-Saudi relationship after OPEC announced last week it would cut oil production. CBS News chief White House correspondent Nancy Cordes reports from Washington, D.C.
John Kirby discusses the war in Ukraine
John Kirby, a retired admiral who now serves as National Security Council coordinator for strategic communications, joined CBS News to discuss the war in Ukraine, Russian President Vladimir Putin's nuclear threats, as well U.S.-Saudi relations and North Korea's recent missile tests.
Biden to release more oil from reserve
President Biden is releasing 15 million barrels of oil from the nation's strategic reserve in an effort to curb rising prices after OPEC+ announcing it would cut oil production. CBS News senior White House and political correspondent Ed O'Keefe explains how the administration plans to account for the oil it's taking from the reserve and how the move could affect the midterm elections.
Biden releases 15M barrels from oil reserve
President Biden unveiled his three-step plan Wednesday to lower oil prices. Part of that plan is the release of 15 million barrels of oil from the U.S. strategic reserve. The announcement comes weeks after OPEC+ announced it was cutting oil production, a decision that drove gas prices up. CBS News senior White House and political correspondent Ed O'Keefe discussed the president's plan.
Investors react to oil reserve announcement
President Biden announced Wednesday that 15 million more barrels of oil would be released from the Strategic Petroleum Reserve as part of a plan to reduce gas prices. Reuters energy reporter Laura Sanicola discussed the reaction in the oil market.
Biden releases 15 million barrels of oil from strategic reserve
President Biden announced the release of 15 million barrels of oil from the U.S. strategic reserve as part of a response to recent production cuts announced by OPEC+ nations.
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Seized ship taken toward Iran as Trump and Xi agree on Strait of Hormuz
A ship was taken by unknown parties toward Iranian waters after an Indian-flagged vessel was attacked off Oman.
China's Xi warns Trump about "conflicts" if Taiwan isn't "handled properly"
President Trump is in Beijing meeting with China's President Xi Jinping, with the two leaders aiming to stabilize their trading relationship after last year's trade war.
Exclusive
Hero pilot recounts crash landing in Atlantic Ocean
Ian Nixon, a veteran pilot from the Bahamas, put the plane he was flying down in the ocean without anyone suffering serious injuries.
Ukraine says Russia launches "virtually nonstop" strikes on Kyiv
More than 1,500 Russian drones and dozens of missiles were launched in the last two days, according to Ukrainian officials.
Software CEO convicted for running $1 billion Medicare fraud scheme
Brett Blackman was convicted on charges including healthcare and Medicare fraud, and faces decades in prison.
CENTCOM chief says Iran's hold on strait has weakened, but threats remain
Admiral Brad Cooper of U.S. Central Command told the Senate Armed Services Committee that U.S. forces have destroyed more than 90% of Iran's inventory of 8,000 naval mines.
Senate adopts resolution to withhold senators' pay during shutdowns
The Senate unanimously agreed to adopt a resolution on Thursday that will withhold senators' pay during a lapse in funding for any federal agency.
Exclusive
Bipartisan U.S.-Mexico congressional caucus launches amid diplomatic strain
The launch is being backed by the American Mexican Leadership Council, a new national organization also debuting Thursday to elevate Mexican American leadership and advance U.S.-Mexico collaboration.
Why Taiwan is a major flashpoint between the U.S. and China
For decades, U.S. presidents have remained steadfast in their defense of the tiny Asian ally from its neighboring giant.
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Trucking broker can face lawsuit over fatal crash, Supreme Court rules
A CBS News investigation showed the broker had worked with dangerous "chameleon carriers," thousands of which evade federal safety enforcement by reincarnating under new names.
Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Why are so many U.S. CEOs in China with Trump, and what do they want?
More than a dozen American CEOs are accompanying President Trump on his trip to China. That's not unusual.
Former death row inmate granted bond after nearly being executed 3 times
An Oklahoma judge granted bond to former death row inmate Richard Glossip on Thursday, laying the groundwork for his first release from prison since 1997.
CENTCOM chief says Iran's hold on strait has weakened, but threats remain
Admiral Brad Cooper of U.S. Central Command told the Senate Armed Services Committee that U.S. forces have destroyed more than 90% of Iran's inventory of 8,000 naval mines.
MoneyWatch
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Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Why are so many U.S. CEOs in China with Trump, and what do they want?
More than a dozen American CEOs are accompanying President Trump on his trip to China. That's not unusual.
Jury awards $49.5 million to Boeing 737 MAX crash victim's family
A jury in Chicago awarded $49.5 million in damages Wednesday to the family of a 24-year-old American who perished in a 2019 Boeing 737 MAX crash.
Rare blue-green diamond sells for record price at auction
The 5.5-carat "Ocean Dream" diamond was found in Central Africa in the 1990s.
Workers are getting paid to teach AI how to do their jobs
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
Politics
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Trucking broker can face lawsuit over fatal crash, Supreme Court rules
A CBS News investigation showed the broker had worked with dangerous "chameleon carriers," thousands of which evade federal safety enforcement by reincarnating under new names.
Why are so many U.S. CEOs in China with Trump, and what do they want?
More than a dozen American CEOs are accompanying President Trump on his trip to China. That's not unusual.
CENTCOM chief says Iran's hold on strait has weakened, but threats remain
Admiral Brad Cooper of U.S. Central Command told the Senate Armed Services Committee that U.S. forces have destroyed more than 90% of Iran's inventory of 8,000 naval mines.
Exclusive
Bipartisan U.S.-Mexico congressional caucus launches amid diplomatic strain
The launch is being backed by the American Mexican Leadership Council, a new national organization also debuting Thursday to elevate Mexican American leadership and advance U.S.-Mexico collaboration.
U.S. Border Patrol chief resigns in latest immigration shakeup
U.S. Border Patrol Chief Michael Banks, who was appointed to the role last year, told staff on Thursday that he is stepping down.
HealthWatch
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Sponsored
Activities that challenge your mind may help maintain brain health
Challenging your mind, through games and learning new skills, may help reduce your risk of dementia, according to the Alzheimer's Association. (Sponsored by the Alzheimer's Association.)
Trump demands Medicaid data for deportation. Some states go further.
Several states have required their health agencies to take on another job: verifying immigration status among Medicaid recipients and reporting them to the U.S. Department of Homeland Security.
No Americans showing hantavirus symptoms
Jake Rosmarin is one of the 16 Americans at the University of Nebraska Medical Center being monitored for signs of hantavirus. Ian Lee spoke with him and has more details.
AI is fabricating citations in biomedical studies, researchers find
"Your doctor could be making decisions around treatment based on studies that never existed," one expert said.
New Yorker describes hantavirus quarantine experience after cruise ship outbreak
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
World
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CENTCOM chief says Iran's hold on strait has weakened, but threats remain
Admiral Brad Cooper of U.S. Central Command told the Senate Armed Services Committee that U.S. forces have destroyed more than 90% of Iran's inventory of 8,000 naval mines.
Ukraine says Russia launches "virtually nonstop" strikes on Kyiv
More than 1,500 Russian drones and dozens of missiles were launched in the last two days, according to Ukrainian officials.
U.K. health secretary resigns in scathing letter, setting up leadership fight
Health Secretary Wes Streeting quit embattled British Prime Minister Keir Starmer's Cabinet in what is expected to be a precursor to challenging his leadership.
Sailors from doomed 1845 polar expedition identified through DNA
The identification of the remains also resolved a decades-long debate about the worst disaster in the history of British polar exploration.
Jury awards $49.5 million to Boeing 737 MAX crash victim's family
A jury in Chicago awarded $49.5 million in damages Wednesday to the family of a 24-year-old American who perished in a 2019 Boeing 737 MAX crash.
Entertainment
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Entertainment
"Survivor" contestants on double elimination
(Spoilers ahead) "CBS Mornings" reveals the castaways voted off during Wednesday's episode of "Survivor 50" in another double elimination. They discuss being part of the franchise and their legacies in the game.
National Recording Registry adds Taylor Swift, Beyoncé, Ray Charles, more
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
Troubling trend for touring musicians
Major musicians from Post Malone to Meghan Trainor have recently struggled to sell out stadiums and arenas for their tours. It's a troubling trend being called "blue dot fever" and has led to entertainers canceling some or all of their shows. Ash-har Quraishi reports.
Geena Davis talks new series "The Boroughs"
Actor Geena Davis talks about starring in the new series "The Boroughs," if there are parallels between herself and the character she plays, and why she's drawn to supernatural projects. She also addresses representation in the entertainment industry.
"Top Gun" celebrates 40 years
The action movie "Top Gun," starring Tom Cruise, was released 40 years ago. To celebrate its anniversary, the film and its sequel, "Top Gun: Maverick," are returning to AMC theaters nationwide for one week. Vladimir Duthiers reports.
Technology
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Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Workers are getting paid to teach AI how to do their jobs
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
China's most critical issue: Taiwan
Chinese President Xi Jinping has called Taiwan "the most important issue" between his country and the U.S. About 10% of the population in Taiwan wants to reunify with mainland China, and there are real fears that it will fall under communist control. Tony Dokoupil and Anna Coren break down its importance to China and the U.S.
Companies hiring humans to train AI platforms
AI training is an emerging job market where those with specialized skills are paid to train bots to be more accurate and human-like in their responses. The CBS News MoneyWatch team spoke with multiple hiring platforms that pair human experts with AI training jobs. Megan Cerullo has more.
Science
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NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Emperor penguins in focus as Antarctica talks start in Japan
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Trump: UFO files released for transparency
Defense Secretary Pete Hegseth said it's time for the American people see it for themselves, as the Pentagon started releasing previously classified documents related to UFOs and UAPs. CBS News Pentagon reporter Eleanor Watson has more.
"The Age of Disclosure" director on UFO files
The Pentagon on Friday released and declassified numerous files on UFOs, including eyewitness testimony, photos and reports. Government knowledge of non-human intelligent life was the subject of the documentary "The Age of Disclosure," released in February. Its director and producer, Dan Farah, joins CBS News to discuss.
Crime
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Former death row inmate granted bond after nearly being executed 3 times
An Oklahoma judge granted bond to former death row inmate Richard Glossip on Thursday, laying the groundwork for his first release from prison since 1997.
Software CEO convicted for running $1 billion Medicare fraud scheme
Brett Blackman was convicted on charges including healthcare and Medicare fraud, and faces decades in prison.
Huge twist in Alex Murdaugh case
Alex Murdaugh, the former South Carolina lawyer who was convicted of murder, will get a new trial and have his convictions overturned, the state's Supreme Court ruled Wednesday. CBS News' Eva Pilgrim reports.
Feds arrest tourist accused of hurling rock at endangered seal's head
The tourist sparked outrage after a witness recorded him chucking a coconut-sized rock at "Lani," a beloved Hawaiian monk seal off a Maui beach.
Videos show shots fired in Philippine Senate
Warning: Distressing video. Authorities in the Philippines tried to arrest a senator on Wednesday, resulting in a burst of gunfire in the Philippine Senate, according to an Associated Press journalist and other witnesses.
Space
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NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Mysterious world beyond Pluto may have atmosphere, study says
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
Artemis crew surprises 5-year-old aspiring astronaut with special gift
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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5/16: The Uplift
David Begnaud meets a man who has attended the Kentucky Derby for 79 years in a row – and his dying wish to make it there one last time.
CENTCOM chief: Iran's capabilities "degraded"
Admiral Brad Cooper, commander of the U.S. Central Command, told Sen. Jack Reed that Iran is a "significantly degraded threat" but the country still retains some capabilities. Cooper appeared before the Senate Armed Services Committee on Thursday.
Christopher Nolan | Sunday on 60 Minutes
Christopher Nolan, the filmmaker behind "Oppenheimer," "Interstellar," "The Dark Knight" and "The Odyssey," sits down with Scott Pelley. Sunday on 60 Minutes.
Breaking down the U.S. "learning recession"
A new report from the national Education Scorecard warns the U.S. is experiencing a "learning recession." Thomas Kane, professor at Harvard's Center for Education Policy Research, joins CBS News to discuss.
Crowdstrike exec on Chinese, North Korean threats
Adam Meyers, head of counter adversary operations for Crowdstrike, joins CBS News to discuss how Americans should view potential cyber threats from China and North Korea.