Crude oil surged to a record $135 a barrel as the Organization of Petroleum Exporting Countries’ ministers said they couldn’t stop oil from heading toward the $200 mark, Bloomberg reported.

The price of oil has risen 19 percent this month. Crude oil for July delivery rose 1.4 percent to $135.09 a barrel in after-hours trading on the New York Mercantile Exchange. Meanwhile, Brent crude oil traded above the New York contract for the first time in more than three months. Brent for July delivery rose as much as 1.8 percent to $135.14 a barrel on London’s IntercontinentalExchange Inc. Futures Europe exchange.

The increases come as analysts have hiked their price forecasts because of expected supply constraints and demand growth.

The rising price of oil has hurt companies, including American Airlines, which said yesterday it plans to cut jobs and routes, retire planes, and charge $15 for checked bags to try to avoid bankruptcy.