Weekly Ethanol Production for 1/6/2023

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According to EIA data analyzed by the Renewable Fuels Association for the week ending January 6, ethanol production rebounded by 11.7% to 943,000 b/d. This is equivalent to 39.61 million gallons daily. However, production was 6.3% lower than the same week last year and 8.5% below the five-year average for the week. The four-week average ethanol production decreased 3.0% to a twelve-week low of 945,000 b/d, equivalent to an annualized rate of 14.49 billion gallons (bg).

Ethanol stocks retreated 2.6% to 23.8 million barrels. Still, stocks were 3.9% more than a year ago and 2.8% above the five-year average. Inventories thinned across the East Coast (PADD 1) and Gulf Coast (PADD 3) but built across the other regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, ticked up 0.6% to 7.56 million b/d (115.86 bg annualized). Yet, demand was 4.4% less than a year ago and 8.3% below the five-year average.

Refiner/blender net inputs of ethanol waned, down 2.7% to 768,000 b/d, equivalent to 11.77 bg annualized and the lowest volume in a year. Net inputs were 1.7% more than a year ago but 5.8% below the five-year average.

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

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