How will OPECs surprise oil cut impact gas prices in California

LOS ANGELES (KABC) — Major oil-producing countries led by Saudi Arabia announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year. In the U.S. and in California, it’s raising concern that gas prices could rise. Right now, the average price of regular gas in California is $4.63, well over a dollar more than the national average, according to the U.S. Energy Information Administration. But gas analysts warn it could jump after OPEC’s move to cut oil production. RELATED: Saudi Arabia and other major oil nations announce cuts to production, potentially raising…