Ethanol production slowed by 5.5% over prior week

0
87

In Washington, D.C., ethanol production slowed by 5.5%, or 49,000 barrels per day (b/d), to 958,000 b/d—equivalent to 40.24 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production remained 7.1% below the same week in 2019 as a result of the continuing effects of the COVID-19 pandemic. The four-week average ethanol production rate ticked up 1.6% to 928,000 b/d, equivalent to an annualized rate of 14.23 billion gallons.

Ethanol stocks rose by 2.4% to 20.3 million barrels, which was 17.2% below year-ago volumes. Inventories increased in all regions except the Rocky Mountains (PADD 4).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, grew 3.0% to 8.81 million b/d (135.04 bg annualized). Gasoline demand remained 7.8% lower than a year ago.

Refiner/blender net inputs of ethanol moved 1.7% higher to 853,000 b/d, equivalent to 13.08 bg annualized, which was 11.1% below the year-earlier level.

The U.S. imported 27,000 b/d of ethanol, or 7.94 million gallons for the week, following two weeks when no imports were reported. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2020.)



Original Source