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Weekly Ethanol Production Increases

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According to EIA data, ethanol production averaged 939,000 barrels per day (b/d)—or 39.44 million gallons daily. That is up 1,000 b/d from the week before. The four-week average for ethanol production stood at 961,000 b/d for an annualized rate of 14.73 billion gallons—the lowest four-week rate since October 2015. Stocks of ethanol stood at 22.0 million barrels. That is a 1.2% decrease from last week and a 12-week low. Stocks are down nearly 6% from the peak in early March. Imports of ethanol were nonexistent for the 18th straight week.

Gasoline demand for the week remained robust, averaging 396.6 million gallons (9.444 million barrels) daily. Refiner/blender input of ethanol averaged 893,000 b/d. Year-to-date ethanol blending is running 2.2% higher than year-ago levels. Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.94%, up from 9.74% the previous week.

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