Quote Originally Posted by Divayth Fyr View Post
Yes, alchemy in Oblivion is coded in such a way that the effective cap is 100 skill.
Presumably in order to avoid the easy exploit that was possible in Morrowind, where you could make a potion of Fortify Intelligence, drink it, make a stronger one, drink that, and so on for as long as you had ingredients, thus being able to make arbitrarily strong potions.