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.
Trump made over $1 billion on crypto ventures last year, disclosure shows
President Trump earned more than a billion dollars from crypto-related ventures alone last year, according to a financial disclosure, including from his meme coin business and his family's cryptocurrency venture.
Iran's top negotiator says country ready for war as peace talks inch along
A long-term U.S.-Iran peace deal may depend on a separate agreement between Israel and Lebanon. Analysts say that presents a problem.
Details emerge of Taylor Swift-Travis Kelce wedding events at MSG
Taylor Swift and Travis Kelce's wedding plans include a rehearsal dinner and a late-night celebration at Madison Square Garden in New York City, according to sources familiar with the security planning.
Rescuers in Venezuela race to save security guard trapped under building
Hernan Gil Flores is believed to still be in the security booth of the building's underground parking garage. His wife says rescuers have been able to make contact with him and get him water.
Anthropic says Trump admin. lifted restrictions on powerful Claude AI models
Artificial intelligence giant Anthropic says the federal government lifted a set of restrictions on its powerful Claude Fable 5 and Mythos 5 models, resolving a weekslong dispute.
Trump announces first-ever Republican midterm convention in Dallas
President Donald Trump has announced that Republicans will hold their first-ever national convention ahead of the midterm elections in Dallas.
Phil Weiser projected to win Democratic primary for Colorado governor
Colorado Attorney General Phil Weiser is the winner in the pivotal race to be the Democratic nominee for governor in Colorado, AP projects.
DOJ investigating Sen. Ruben Gallego's use of campaign funds, sources say
The probe focuses on Gallego's use of campaign funds for family trips, a source told CBS News. He has denied wrongdoing.
Maps show heat dome forecast to scorch major U.S. cities this week
A heat wave will blast much of the eastern U.S. this week, and forecasters say temperatures will feel even hotter because of the high humidity that's arriving with it.
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Millions of Americans could experience hottest July 4th ever
Extremely dangerous heat, coupled with humidity, could result in heat index readings of 100 to 115 degrees from the Midwest to the East Coast, forecasters said.
Aspen Acres Fire burns dozens of homes in southern Colorado
The Aspen Acres Fire has destroyed 55 homes in Custer County and more than 100 structures in Pueblo County.
House GOP agenda stalls over holdouts' insistence on SAVE America Act
The holdouts blocked Speaker Mike Johnson's plan to merge the SAVE America Act with the annual defense policy bill before sending it over to the Senate.
How the Supreme Court ruled on Trump's agenda this term
The court's decisions cemented Mr. Trump's authority over vast swathes of the government, while delivering significant setbacks to his agenda in other areas.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
MoneyWatch
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Anthropic says Trump admin. lifted restrictions on powerful Claude AI models
Artificial intelligence giant Anthropic says the federal government lifted a set of restrictions on its powerful Claude Fable 5 and Mythos 5 models, resolving a weekslong dispute.
Trump made over $1 billion on crypto ventures last year, disclosure shows
President Trump earned more than a billion dollars from crypto-related ventures alone last year, according to a financial disclosure, including from his meme coin business and his family's cryptocurrency firm.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
Egg producers reach federal and state settlement after price-fixing probe
Three U.S. egg producers will be required to provide 53 million eggs to food banks and to pay a $3.3 million financial penalty.
Taylor Swift and Travis Kelce wedding rumors fuel big bets on prediction markets
The impending wedding of Taylor Swift and Travis Kelce has already generated more than $4.5 million in wagers, according to Kalshi.
Politics
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Melat Kiros projected to defeat Diana DeGette in Colorado Congressional primary
Challenger Melat Kiros, a democratic socialist, is the projected winner of the Democratic primary in Colorado's First Congressional District.
Labor activist Dolores Huerta says Trump "does not know history"
Longtime labor activist Dolores Huerta says President Trump's disparaging remarks about Mexicans show he "does not know history," and called on Latinos in California, Texas and other states to push for change.
Phil Weiser projected to win Democratic primary for Colorado governor
Colorado Attorney General Phil Weiser is the winner in the pivotal race to be the Democratic nominee for governor in Colorado, AP projects.
Anthropic says Trump admin. lifted restrictions on powerful Claude AI models
Artificial intelligence giant Anthropic says the federal government lifted a set of restrictions on its powerful Claude Fable 5 and Mythos 5 models, resolving a weekslong dispute.
Lawyer for E. Jean Carroll says Trump wants to delay $5 million payment
Lawyers for President Trump asked for E. Jean Carroll's consent to delay the $5 million awarded to her by a 2023 jury, according to an attorney for the writer.
HealthWatch
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HealthWatch
What is the viral trend looksmaxxing?
Looksmaxxing is a viral and controversial trend that encourages young men to maximize their appearance. Adam Yamaguchi shows why it's resonating with some people.
He dreamed of becoming a physician assistant. New loan rules may thwart him.
Starting July 1, the government will cap what graduate students may borrow in federal loans, forcing many toward private lenders with higher interest rates.
Here's what to know about Medicare's new GLP-1 weight-loss drug program
For the first time, Medicare will cover GLP-1 drugs prescribed solely for weight loss for eligible beneficiaries at a $50 monthly copay.
Former NFL star Chris Johnson says he's been diagnosed with ALS
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
Mom gets answers after fighting for diagnosis: "Something's wrong"
Michelle Williams struggled with high blood pressure and swelling for years before she was finally diagnosed with an unusual condition.
World
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At least 14 kids killed as Pakistan tutoring center's roof collapses
The roof of a private tutoring center in Lahore, Pakistan, collapsed, killing more than a dozen pupils and leaving at least eight more injured, authorities say.
Rescuers in Venezuela race to save security guard trapped under building
Hernan Gil Flores is believed to still be in the security booth of the building's underground parking garage. His wife says rescuers have been able to make contact with him and get him water.
U.S. announces new bank alert targeting powerful drug cartel
Two men and nine companies are accused of being tied to a cartel-linked fuel theft ring intended to evade taxes while generating tens of millions of dollars annually.
House sinks Rep. Rashida Tlaib's second war powers resolution on Lebanon
The House voted Tuesday on an updated version of the measure after Democratic leaders opposed the original language.
Arrests made after bomb attack targets reporter threatened by mafia
Sigfrido Ranucci had just returned home at the time of the explosion, and his daughter had walked by a half-hour before, his employer said.
Entertainment
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Entertainment
Swift, Kelce hosting 2 events at MSG: sources
While there's still no official word from Taylor Swift or Travis Kelce on their wedding, some law enforcement sources are talking details. Jo Ling Kent has more from Madison Square Garden.
New details on Swift-Kelce wedding events
After all the speculation, law enforcement sources are revealing new information about Taylor Swift and Travis Kelce's wedding events this holiday weekend. CBS News' Anna Schecter reports.
Taylor Swift's history with MSG, from talent competition to wedding bash
Taylor Swift has had a decadeslong history with Madison Square Garden, performing there as early as 2003 and even celebrating her 30th birthday at the venue.
Clues at MSG fuel Swift-Kelce wedding rumors
Crews were seen unloading covered equipment from trucks into Madison Square Garden on Tuesday, fueling rumors that Taylor Swift and Travis Kelce could be holding their wedding there this weekend.
Details emerge of Taylor Swift-Travis Kelce wedding events at MSG
Taylor Swift and Travis Kelce's wedding plans include a rehearsal dinner and a late-night celebration at Madison Square Garden in New York City, according to sources familiar with the security planning.
Technology
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Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
AI could make people dull, one scientist fears. Here's why.
AI tends to "play it safe within a user's preferences," nudging people toward more conventional choices, according to computational social scientist Sandra Matz.
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.
U.S. eases restrictions on Mythos AI model
The Trump administration is allowing Anthropic to restore access to its Mythos 5 AI model for a select group of U.S. companies and federal agencies. New York Times tech reporter Sheera Frenkel joins CBS News to discuss.
How trains drove American history
The transcontinental railroad changed just about everything in America: transportation, communications, commerce, cities, politics, even our perception of time. Correspondent David Pogue visits Steamtown National Historic Site, in Scranton, Pa., home to Big Boy, the biggest functioning steam train in the world, to learn how trains helped define an expansive America.
Science
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Science
NASA strives to save doomed telescope
NASA is in a race against time as the Swift Observatory telescope in orbit sinks closer to Earth. CBS News consultant William Harwood explains the $30 million salvage operation.
Fossil found in drawer turns out to be first dinosaur bone from Antarctica
Dinosaur fossils are rare to find in Antarctica because of the unforgiving ice caps. But millions of years ago, the region was populated by lush forests.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Ancient Egyptian burial site reveals centuries of changing traditions
Human and animal remains unearthed in Egypt's Nile Delta reveal changing funerary practices over some 600 years, and the evolution of a key site itself.
Crime
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U.S. announces new bank alert targeting powerful drug cartel
Two men and nine companies are accused of being tied to a cartel-linked fuel theft ring intended to evade taxes while generating tens of millions of dollars annually.
Suspect in D.C. Israeli murders back in court
The man accused of killing two Israeli embassy staffers in Washington, D.C., is back in court today. CBS News crime and public safety unit's senior coordinating producer Anna Schecter has more on the case.
Arrests made after bomb attack targets reporter threatened by mafia
Sigfrido Ranucci had just returned home at the time of the explosion, and his daughter had walked by a half-hour before, his employer said.
Over half a million dollars stolen from ATMs in "jackpotting" scheme
Four men are accused of stealing more than half a million dollars from ATMs in Connecticut, in a "jackpotting scheme," authorities said.
Monaco attack injures at least 3
Officials say a bomb went off at a residential building in Monaco, leaving at least three people injured, including a Ukrainian businessman. Chris Livesay reports.
Space
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NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Telescope snaps most detailed photo yet of Milky Way's heart
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Interstellar comet may be oldest object ever seen in solar system
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Latest Galleries
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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.
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.
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.
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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6/27: CBS Weekend News
High winds and heat are fueling Utah's out-of-control wildfires; Iranian drones target Bahrain after U.S. strikes Iran.
How athletes are extending their careers
From the tennis court to the soccer pitch, some elite athletes are proving that their careers don't have to end as they get older. At the World Cup, two of the biggest stars are 39-year-old Lionel Messi and 41-year-old Cristiano Ronaldo. 41-year-old NBA star LeBron James is looking to add another NBA title to his resume, and 44-year-old Serena Williams took to the court at Wimbledon this year. Matthew Futterman, senior writer for tennis at the Athletic, joins "The Daily Report" to discuss.
Great grandson of Wong Kim Ark on ruling
The Supreme Court upheld the Constitution's guarantee of birthright citizenship on Tuesday. The court voted 6-3 to strike down President Trump's executive order drastically scaling back that right. Norman Wong, the great-grandson of Wong Kim Ark, who's case nearly 130 years ago led to children born on U.S. soil being granted U.S. citizenship immediately, discusses the ruling.
Swift, Kelce hosting 2 events at MSG: sources
While there's still no official word from Taylor Swift or Travis Kelce on their wedding, some law enforcement sources are talking details. Jo Ling Kent has more from Madison Square Garden.
What kids taught us about America
Tony Dokoupil visited an elementary school in New Jersey where students celebrated the country's 250th birthday with some historical figures.