Home Energy U.S. Ethanol Production at a 15 Week Low

U.S. Ethanol Production at a 15 Week Low

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According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged 1.036 million barrels per day (b/d)—or 43.51 million gallons daily. Output thinned by 15,000 b/d, settling 1.4% under the prior week. The four-week average for ethanol production receded to a 15-week low of 1.048 million b/d for an annualized rate of 16.07 billion gallons. Stocks of ethanol eased to 22.6 million barrels. That is a 0.4% decrease and an 8-week low.

There were zero ethanol imports recorded for the third consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of July 2018.)

Average weekly gasoline demand dropped for the fourth straight week, plummeting 5.7% to 8.987 million barrels (377.5 million gallons) daily. This is equivalent to 137.77 billion gallons annualized and the lowest consumption in 16 weeks (the start of summer driving season). Refiner/blender input of ethanol likewise shrank to the lowest use in 16 weeks, contracting 2.9% to 901,000 b/d. That is equivalent to 13.81 billion gallons annualized.

Expressed as a percentage of daily gasoline demand, daily ethanol production lifted to a 7-week high of 11.53%.

Source: RFA