OPEC+ has agreed to raise daily oil production quotas slightly, as the world grapples with a severe supply shortage stemming from the Iran war.

Eight countries in the major oil bloc committed to a quota hike of 206,000 barrels per day, split between them. Those are Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman.

The hike, set to take effect in May, will see increases for both Saudi Arabia and Russia at 62,000 barrels per day. Iraq will increase by 26,000 bpd, the UAE’s by 18,000 bpd, and Kuwait’s by 16,000 bpd. The other three see increases below 10,000 bpd.

While the move from OPEC+ could help increase global supply, the actual implementation date falls when hostilities in the Middle East are likely to cease.

President Donald Trump has recently said the war will be over in two to three weeks, putting an end date at roughly sometime in mid-April.

Many of the OPEC+ countries have also been affected by Iran’s chokehold over the Strait of Hormuz, which has roiled the oil trade and slowed global shipping to a trickle.

The Hormuz bottleneck is showing some signs of easing, with vessels from so-called brotherly nations and some Asian countries passing through.

But Iran is digging in on its de facto control over the strait, slapping a $2 million toll on vessels transiting the waterway and banning certain countries indefinitely.

IRAN VOWS TO CONTINUE STRAIT OF HORMUZ CHOKEHOLD IN FACE OF FIERY TRUMP THREATS

Trump, meanwhile, is looking to end the stranglehold once and for all.

His deadline for Iran to reopen the strait hits Tuesday night. If Iran doesn’t comply, Trump has said he will bomb its power plants and bridges.