The skyrocketing price was 0.72 dollars higher than the last record of 135.31 dpb set on the previous trading day.

The OPEC daily average price first surpassed 130 dollars on June 9 and fluctuated slightly above 128.45 dpb on June 18. In June, the OPEC daily average price jumped over 130 dollars seven times.

After some OPEC senior officials forecast a future trend surpassing 150 dpb last week, prices surged 4.54 dollars higher to135.31 dpb on June 27 and hiked further to 136.03 dpb on the following trading day.

Analysts believe that one other possible main reason for such a rampant surge should be attributed to stock investors who dished out stocks and turned to the commodity market due to the global stock slump last Friday.

Iran's Oil Minister Gholamhossein Nozari said on the sidelines of the 19th World Petroleum Congress that opened in Madrid on Sunday that the "market is over-supplied" and OPEC "can't do anything to decrease prices."

OPEC President Chakib Khelil, on the other hand, suggested western governments use oil tax gains to ease consumers' suffering.

Khelil reiterated that there was no problem about enough oil and gas supplies to satisfy the needs of the world for the next 50years. The rising prices should be blamed on the weak dollar and speculation.

Experts believe oil prices will not drop sharply before touching 150 dpb. (Xinhua)