Opec and its allies will continue raising oil production, even as members appear to fall short of their quotas.

The 14 formal members and the 10 associates making up Opec+ will bump crude production by another 400,000 barrels per day in March, sticking to a plan agreed in July.

The decision comes as challenges from some members saw them struggle to keep up with the gradual production ramping, helping to push benchmark prices to multi-year highs with Brent crude quotes at $89.24