Weekly Ethanol Production for 10/21/2022

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According to EIA data analyzed by the Renewable Fuels Association for the week ending October 21, ethanol production expanded 1.7% to 1.033 million b/d, equivalent to 43.39 million gallons daily and the largest weekly output since July. However, production was 6.6% less than the same week last year and even with the five-year average for the week. The four-week average ethanol production volume lifted 4.8% to 967,000 b/d, equivalent to an annualized rate of 14.82 billion gallons (bg).

Ethanol stocks climbed 2.0% to 22.3 million barrels. Stocks were 11.9% higher than a year ago and 6.3% above the five-year average. Inventories built in the Gulf Coast (PADD 3) and West Coast (PADD 5) but thinned across the other regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 2.9% to 8.93 million b/d (136.90 bg annualized). Yet, demand was 4.2% less than a year ago and 3.7% below the five-year average.

Refiner/blender net inputs of ethanol rose 0.8% to 915,000 b/d, equivalent to 14.03 bg annualized. Net inputs were 0.2% higher than a year ago as well as the five-year average.

There were zero imports of ethanol recorded after 28,000 b/d hit the books the prior week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of August 2022.)

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