VIENNA, April 24 (Xinhua) -- The daily average oil price of the Organization of Petroleum Exporting Countries (OPEC) on Monday again jumped over 111 U.S. dollars and set a record high of 111.66dollars per barrel (dpb), the Vienna-based cartel said Tuesday.

    The price was 1.65 dollars higher than the last trading day. OPEC President Chakib Khelil said these days that "in terms of fundamentals, stocks are high, demand is easing, supply is satisfactory," therefore, he attributed the high price to weak dollars and the geo-political issues.

    He emphasized the link between the U.S. dollar and the oil prices, saying should the dollar strengthen by 10 percent, oil prices would fall by 40 percent.

    Experts also said the price would keep rising in the short run. Uncertainty about future global economic growth, attacks on oil pipelines in Nigeria and speculations in the commodity market would continue to push the price upward.