According to EIA data analyzed by the Renewable Fuels Association for the week ending September 18, ethanol production slowed, shifting 2.2% lower, or 21,000 barrels per day (b/d), to 906,000 b/d—equivalent to 38.05 million gallons daily and the smallest output since June. The four-week average ethanol production rate declined 0.6% to 924,000 b/d, equivalent to an annualized rate of 14.16 billion gallons (bg).
Ethanol stocks expanded by 1.0% to 20.0 million barrels, which was 11.1% below year-ago volumes. Inventories increased across all regions except the Midwest (PADD 2) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, ticked up 0.4% to 8.52 million b/d (130.53 bg annualized). Gasoline demand remained 8.9% lower than a year ago.
Refiner/blender net inputs of ethanol slipped 0.7% to 839,000 b/d, equivalent to 12.86 bg annualized. This was 10.3% below the year-earlier level as a result of the continuing effects of the COVID-19 pandemic.
Imports of ethanol arriving into the West Coast were 11,000 b/d, or 3.23 million gallons for the week. This marks the seventh time in nine weeks that imports were reported. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of July 2020.)