Russia does not use stocks in tanks to help boost oil output and does not have enough stocks to influence the oil market, Russian Energy Minister Alexander Novak told reporters in Johannesburg late on Thursday evening. Russia used stocks held in tanks at its oilfields to help boost crude production in June, three industry sources told Reuters in July, in a sign of supply flexibility as OPEC kingpin Saudi Arabia pushes other major producers to increase spare output capacity. Russia does have some flexibility thanks to spare capacity in the Transneft ( TRNF_p.MM ) pipeline system and in oil tanks at fields, the sources said. “Transneft, of course, has its own oil storage facilities for the technological process. But we of course […]