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Weekly Ethanol Production for 12/16/2022

According to EIA data analyzed by the Renewable Fuels Association for the week ending December 16, ethanol production slowed by 3.0% to 1.029 million b/d, equivalent to 43.22 million gallons daily. Production was 2.1% lower than the same week last year and 1.9% below the five-year average for the week. The four-week average ethanol production decreased 0.3% to 1.046 million b/d, equivalent to an annualized rate of 16.04 billion gallons (bg).

Ethanol stocks drew down 1.4% to 24.1 million barrels. However, stocks were 16.2% more than a year ago and 8.9% above the five-year average. Inventories tightened across all regions except the East Coast (PADD 1).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, jumped 5.6% in advance of the holidays to a five-week high of 8.71 million b/d (133.59 bg annualized). Yet, demand was 3.0% less than a year ago and 3.5% below the five-year average.

Conversely, refiner/blender net inputs of ethanol slipped 0.3% to 876,000 b/d, equivalent to 13.43 bg annualized. Net inputs were 0.7% less than a year ago and 2.7% below the five-year average.

There were zero imports of ethanol recorded for the second consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of October 2022.)

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