The latest OPEC deal to curb oil production for the second quarter of 2020 would prevent some of the rise in global oil storage capacity, according to experts on Friday.

OPEC and non-OPEC oil producing countries agreed earlier Friday to cut their total oil production by 10 million barrels per day (bpd) from May 1 until June 30.

“A 10 million bpd cut would be very supportive of price over the second quarter,” Ann-Louise Hittle, vice president of macro oils at Wood Mackenzie, said in a note.

She said the output cuts by the group dubbed as OPEC+ would

Read more: OPEC deal to prevent global oil storage rise: Experts