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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Ross Fire still burning, with over 90,000 acres scorched
The wildfire, which has torn through Palo Pinto and Jack counties, forced evacuations, closed roads and disrupted schools.
New Hampshire Senate race set between Pappas and Sununu after projected primary wins
Rep. Chris Pappas defeated democratic socialist Karishma Manzur in the Democratic primary, while former Sen. John Sununu defeated Scott Brown in the GOP contest.
Federal judge backs Missouri's new House map after Supreme Court rebuffs case
A federal judge ruled that Missouri should use a new congressional map that favors Republicans for now, hours after the U.S. Supreme Court left in place a ruling from the state's highest court directing Missouri to use an older map.
Lindsay Clancy juror speaks after mistrial: "There was so much doubt"
A woman who served as a juror in Lindsay Clancy's high-profile Massachusetts murder trial provided a look at deliberations, saying there was too much doubt for her to reach a guilty verdict.
Why some key GOP candidates are skipping Trump-backed midterm convention
President Trump and top GOP leaders are gathering in Dallas for a midterm convention, though some Republicans in competitive races are opting to skip it and campaign in their home districts or states.
MoneyWatch
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Trump administration to ban some Canadian motorcycles, dairy, alcohol
The Trump administration moved Tuesday to ban imports of Canadian motorcycles, some dairy products and most types of alcohol starting later this month, intensifying the trade war between the two countries.
Apple event expected to debut foldable iPhone and new CEO John Ternus
Apple's Sept. 9 tech showcase is set to feature new CEO John Ternus unveiling its first foldable iPhone and the iPhone 18.
Bombardier caught in the crossfire of escalating U.S.-Canada feud
President Trump threatened to ban Bombardier sales in the U.S. as Canada's retaliatory tariffs take effect. Here's what to know about the aircraft maker.
Goldman Sachs warns oil prices could hit $120 as U.S. fuel costs surge
Higher gas and diesel prices have cost Americans an additional $100 billion since the Iran war began, according to a Brown University tracker.
Canada's retaliatory tariffs on $20 billion in U.S. goods take effect
Canada's steep retaliatory tariffs on $20 billion in U.S. goods took effect just after midnight ET on Tuesday, deepening the trade war between the two countries.
Politics
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Trump administration to ban some Canadian motorcycles, dairy, alcohol
The Trump administration moved Tuesday to ban imports of Canadian motorcycles, some dairy products and most types of alcohol starting later this month, intensifying the trade war between the two countries.
New Hampshire Senate race set between Pappas and Sununu after projected primary wins
Rep. Chris Pappas defeated democratic socialist Karishma Manzur in the Democratic primary, while former Sen. John Sununu defeated Scott Brown in the GOP contest.
Michigan Jewish leaders call on El-Sayed to change posture on Israel
A coalition of Michigan Jewish leaders launched a petition calling on Abdul El-Sayed and other political candidates to make baseline commitments on Jewish safety and Israel, or risk losing their support.
Federal judge backs Missouri's new House map after Supreme Court rebuffs case
A federal judge ruled that Missouri should use a new congressional map that favors Republicans for now, hours after the U.S. Supreme Court left in place a ruling from the state's highest court directing Missouri to use an older map.
Why some key GOP candidates are skipping Trump-backed midterm convention
President Trump and top GOP leaders are gathering in Dallas for a midterm convention, though some Republicans in competitive races are opting to skip it and campaign in their home districts or states.
HealthWatch
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NYC officials release unseen post-9/11 air quality documents
New York City officials released thousands of previously unseen documents questioning the air quality at Ground Zero following the 9/11 attacks.
What is postpartum psychosis?
Experts discuss the symptoms, diagnosis and stigma surrounding postpartum psychosis (not to be confused with postpartum depression), a psychiatric emergency with symptoms that can be extreme and dangerous, as testified in the trial of Lindsay Clancy.
What is postpartum psychosis?
Postpartum psychosis (not to be confused with postpartum depression) is a psychiatric emergency with symptoms that can be extreme and dangerous, as testified in the trial of Lindsay Clancy. Correspondent Faith Salie talks with experts about the symptoms, diagnosis and stigma surrounding postpartum psychosis; and with a mother whose experience of hallucinations and distorted reality soon after giving birth threatened her and her family.
A woman was in pain for decades. A chance meeting helped her learn why.
Dawn Jemison started dealing with pelvic pain as a preteen. It took decades to learn why — and to find a solution.
Employer and worker health plan costs expected to jump in 2027
Employer health benefit costs are projected to see the steepest increase next year since 2003. That could mean higher deductions and out-of-pocket costs for workers.
World
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London police use tech to tackle masked phone snatchers
Police say fewer people in London are getting their phones stolen by criminals speeding by on bikes and mopeds thanks to a dedicated task force with an "eye in the sky."
U.S. envoy warns U.K. against new plan to sanction Israeli settlements
Britain and 11 other U.S. allies say they'll sanction trade with Israeli settlements in the West Bank, citing an "unprecedented level of settler violence."
Ukrainian woman designing a ballistic missile to put Moscow in reach
Before Russia invaded, Iryna Terekh designed patios. Now she runs a Ukrainian defense company testing a missile she says will soon put Moscow in range.
Lithuania training civilians to defend against a Russian invasion
Lithuania is teaching civilians young and old to help defend their tiny nation from a hypothetical Russian invasion, and telling Putin, "We don't fear you."
France investigates removal of female Eiffel Tower staff for Hindu group's visit
The mayor of Paris announced an investigation into why female staff at the Eiffel Tower were taken off duty for a visit from a Hindu religious group.
Entertainment
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Entertainment
Details on new Elizabeth Holmes doc
Nathan Fielder and Lance Oppenheim's new documentary about Elizabeth Holmes is "probably the wildest documentary I've ever seen," according to Rebecca Ford, Vanity Fair's senior Hollywood correspondent, who was there for the documentary's secret premiere. Ford joined CBS News with more details.
John Legend announces new album
John Legend announced a new album, "Muse," set to be released in late October. Legend sat down with Nate Burleson to discuss the album's new sound and his collaboration with Pharrell.
Secret Elizabeth Holmes documentary makes debut
Theranos founder Elizabeth Holmes, already serving an 11-year sentence for defrauding investors, is now also the star of a new documentary co-created by an absurdist comedian. CBS News' Lilia Luciano has the story.
King Charles: Harry, Meghan won't work as royals
Prince Harry and Megan Markle have returned to the U.K., but not to any official royal duties. But just in case there is any hint of confusion, King Charles released a letter of clarification on Monday. CBS News' Holly Williams has details.
Fall television season set to begin
Labor Day weekend not only marks the traditional end of summer, but the start of the fall television season. The Hollywood Reporter senior editor Alex Weprin joins CBS News to discuss.
Technology
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Apple event expected to debut foldable iPhone and new CEO John Ternus
Apple's Sept. 9 tech showcase is set to feature new CEO John Ternus unveiling its first foldable iPhone and the iPhone 18.
Data center development turns some landowners into millionaires
Most Americans say they're opposed to data centers. But a lucky few have gotten rich selling their land to data center developers.
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.
OpenAI hypes GPT-6 Astra
OpenAI announced GPT-6 Astra as its most powerful model yet, with some saying that the era of artificial general intelligence is here. Meanwhile, concerns about cybersecurity and tech regulation are rising. Axios tech policy reporter Maria Curi joins CBS News with more.
The positive side of data centers
While data centers bother many, some lucky landowners have become millionaires by selling property to developers. Kelly O'Grady reports.
Science
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Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Vote on the fattest marmot now
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA plans to launch new space telescope
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Crime
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Crime
Lindsay Clancy's lawyer asks Trump for pardon
Lindsay Clancy's lawyer spoke with CBS News Boston on Tuesday, explaining why he'd asked President Trump to somehow pardon her, as she is still under state indictment for killing her three children. Shanelle Kaul reports.
Thieves on the run after Renoir paintings stolen in France
Four Renoir paintings worth an estimated $10.5 million were stolen from a French museum, though they abandoned two of the paintings as they fled. Two suspected thieves are still on the run.
Patrick Clancy calls out conspiracy theories
Lindsay Clancy's ex-husband, Patrick Clancy, blasted claims on Tuesday that he is behind the killings of his three children. CBS News Boston reporter Cristina Rex has more.
U.S. Marshals find 79 missing children
The U.S. Marshals Service announced that it found 79 missing and endangered children across Ohio in August. The Marshals Service worked with federal, state and local partners to find the children during Operation Meridian. CBS News' Anna Schecter has more.
Judge orders bond increase for Barry Morphew after arrest
A Colorado judge ordered an increase in bond for murder suspect Barry Morphew on Tuesday from $3 million to $10 million cash only.
Space
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NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
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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.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
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Hurricane Lowell lashes Hawaiian islands
Hurricane Lowell lashed the Hawaiian islands with up to 2 feet of rain in some parts, 90-mph winds and monster waves. Carter Evans reports and Rob Marciano hs the forecast.
Lindsay Clancy's lawyer asks Trump for pardon
Lindsay Clancy's lawyer spoke with CBS News Boston on Tuesday, explaining why he'd asked President Trump to somehow pardon her, as she is still under state indictment for killing her three children. Shanelle Kaul reports.
Barack Obama on the bin Laden operation
In 2011, then-President Barack Obama sat down with 60 Minutes for his first interview after the killing of Osama bin Laden. He described what went through his mind as he watched the operation unfold.
SCOTUS rebuffs Missouri request for new House map
The Supreme Court on Tuesday denied an emergency application to block a Missouri Supreme Court ruling barring the state from using its new congressional map, which favors Republicans. CBS News White House reporter Aaron Navarro has more.
Hurricane Marie damages several SoCal homes
Hurricane Marie damaged several homes across Southern California. CBS News Los Angeles' Jeff Nguyen is in Malibu with a look at the aftermath.