According to EIA data analyzed by the Renewable Fuels Association for the week ending May 27, ethanol production jumped 5.6% to a 24-week high of 1.071 million b/d, equivalent to 44.98 million gallons daily. Production was 3.6% more than the same week last year and 9.7% above the five-year average for the week. The four-week average ethanol production volume increased 2.6% to 1.017 million b/d, equivalent to an annualized rate of 15.59 billion gallons (bg).
Ethanol stocks thinned by 3.2% to 23.0 million barrels, the lowest volume since the start of the year. However, stocks were 17.2% higher than a year ago and 5.8% above the five-year average. Inventories dipped in the East Coast (PADD 1) and Midwest (PADD 2) but increased across the other regions.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 2.0% to 8.98 million b/d (137.62 bg annualized). Demand was 1.8% less than a year ago but 1.0% more than the five-year average.
Refiner/blender net inputs of ethanol rose 0.9% to 923,000 b/d, equivalent to 14.15 bg annualized and the largest weekly volume in nine months. Net inputs were 0.8% more than a year ago and 5.4% above the five-year average.
There were no imports of ethanol for the second consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of March 2022.)