Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021.
David Paul Morris | Bloomberg | Getty Images
Oil prices fell more than 2% on Monday afternoon during Asia hours after OPEC and its allies agreed to end oil production cuts.
But having a deal is “better than no deal” for the Organization of the Petroleum Exporting Countries and its allies — known collectively as OPEC+, according to an oil analyst who said a continued stalemate could mean rising production and plunging prices.
“I think they decided that having a deal was better…