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The way oil prices are set flies against all of the basic principles of the free market.

Sure, when there's a glut of oil in the market, prices go down, and when there's a shortage or even the risk of a shortage, prices go up.

But the supply of oil is largely controlled by what's happening in geopolitics,

and specifically, what's happening between oil producing countries. And look what the president tweeted about OPEC first thing this morning.

Here we go.

Looks like OPEC is at it again with record amounts of oil all over the place.

On Tuesday, Brent Crude, which is a benchmark for oil prices, fell below $63 a barrel.

Just last month, that same barrel was $86. So what's causing these big swings in oil prices?

This is behind the money with the Financial Times. I'm Amy Keene. Today on the show, The Oil Sell Off explained.

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