Weekly Ethanol Production for 12/2/2022

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According to EIA data analyzed by the Renewable Fuels Association for the week ending December 2, ethanol production shot up 5.8% to 1.077 million b/d, equivalent to 45.23 million gallons daily and a 51-week high. Production was 1.2% lower than the same week last year yet 1.8% above the five-year average for the week. The four-week average ethanol production increased 0.7% to 1.037 million b/d, equivalent to an annualized rate of 15.90 billion gallons (bg).

Ethanol stocks rose 1.4% to 23.3 million barrels, the largest weekly volume recorded since August. Stocks were 13.6% more than a year ago and 6.1% above the five-year average. Inventories built 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, rose 0.5% to 8.36 million b/d (128.13 bg annualized). Demand was 6.7% less than a year ago and 4.1% below the five-year average.

Conversely, refiner/blender net inputs of ethanol sank 4.8% to 848,000 b/d, equivalent to 13.00 bg annualized and a 36-week low. Net inputs were 1.6% lower than a year ago and 1.4% below the five-year average.

Imports of ethanol arriving into the West Coast were 10,000 b/d, or 2.94 million gallons for the week. This was the second consecutive week of imports. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of October 2022.)

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