According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged 1.012 million barrels per day (b/d)—or 42.50 million gallons daily. That is down just 2,000 b/d from the week before. The four-week average for ethanol production stood at 1.011 million b/d for an annualized rate of 15.50 billion gallons.
Stocks of ethanol stood at 18.4 million barrels. That is a 2.7% decrease from last week and the lowest level of stocks in more than a year. Ethanol stocks currently sit at just over 20 days of supply, the lowest implied stocks-to-use since October 2015.
Imports of ethanol were nonexistent for the 14th week in a row.
Gasoline demand for the week averaged 381.4 million gallons (9.080 million barrels) daily. Refiner/blender input of ethanol averaged 906,000 b/d.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 11.15%.
