Russia used stocks held in tanks at its oilfields to help boost crude production in June, three industry sources told Reuters, in a sign of supply flexibility as OPEC kingpin Saudi Arabia pushes other major producers to increase spare output capacity. Russian oil production last month rose by around 100,000 barrels per day from May. From July 1-15, the country’s average oil output was 11.215 million bpd, an increase of 245,000 bpd from May, two industry sources said. <O/RUS1> Saudi Arabia increased its oil output by 458,000 bpd in June from May, pumping an average of 10.488 million bpd and selling even more, with some of that supply coming from storage, OPEC sources told Reuters. The difference between the two countries’ numbers lies in […]