According to EIA data analyzed by the Renewable Fuels Association for the week ending April 8, ethanol production declined by 8,000 barrels per day (b/d), or 0.8%, to 995,000 b/d, equivalent to 41.79 million gallons daily. Production was 5.7% more than the same week last year and 9.8% above the five-year average for the week. The four-week average ethanol production volume decreased 0.8% to 1.019 million b/d, equivalent to an annualized rate of 15.62 billion gallons (bg).
Ethanol stocks tightened by 4.2% to a nine-week low of 24.8 million barrels. However, stocks were 20.9% higher than a year ago and 7.8% above the five-year average. Inventories declined across all regions except the Midwest (PADD 2).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, rose 2.0% to 8.74 million b/d (133.92 bg annualized). Demand was 2.3% less than a year ago but 2.7% above the five-year average.
Refiner/blender net inputs of ethanol climbed 3.4% to 887,000 b/d, equivalent to 13.60 bg annualized. Net inputs were 0.3% less than a year ago but 6.9% above the five-year average.
There were no imports of ethanol for the eleventh consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of February 2022.)