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Does The Elder Scrolls 4 - Oblivion have a level cap

Does The Elder Scrolls 4 - Oblivion have a level cap
yes but its only caused by having not enuf skills to level up
I'm lveve 48 and i have 5 level 100 states so theirs not much to level up
however in theory you could go to jail loos some levels then level up agen i dont know if this decreases your level as well as skills