According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged 1.025 million barrels per day (b/d)—or 43.05 million gallons daily. That is down 32,000 b/d from the week before and a four-week low. The four-week average for ethanol production increased to 1.049 million b/d for an annualized rate of 16.08 billion gallons.
Stocks of ethanol increased 5.2% from last week to a new record high of 24.3 million barrels—7% higher than year-ago levels.There were zero imports recorded for the fourteenth week in a row.
Average weekly gasoline demand increased 3.9% to 405.0 million gallons (9.642 million barrels) daily. This is equivalent to 147.81 billion gallons annualized, and represents a 28-week high. Refiner/blender input of ethanol increased 1.8% to 910,000 b/d, equivalent to 13.95 billion gallons annualized and the strongest demand in eleven weeks. The ethanol content in gasoline supplied to the market averaged 9.44%, down from 9.64% the previous week.
Expressed as a percentage of daily gasoline demand, daily ethanol production decreased to a 22-week low of 10.63%.
Source: RFA