Ethanol Production Slows 2.5% Over Previous Week
In Washington, D.C., ethanol production slowed by 2.5%, or 23,000 barrels per day (b/d), to 908,000 b/d — equivalent to 38.14 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production remains tempered due to COVID-19 disruptions, coming in 12.6% below the same week in 2019. The four-week average ethanol production rate ticked 0.3% higher to 913,000 b/d, equivalent to an annualized rate of 14.00 billion gallons.
Ethanol stocks thinned by 3.9% to 19.8 million barrels and 16.4% below year-ago volumes. Inventories tightened across all regions and are at their lowest level since the last week of 2016.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, drew down 1.1% to 8.550 million b/d (131.07 bg annualized). Gasoline demand was 11.6% lower than a year ago.
Refiner/blender net inputs of ethanol rose 2.4% to 839,000 b/d, equivalent to 12.86 bg annualized and 10.9% below the year-earlier level.
There were zero imports of ethanol recorded for the second consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2020.)