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Weekly Ethanol Production for 2/10/2023

According to EIA data analyzed by the Renewable Fuels Association for the week ending February 10, ethanol production increased 1.4% to 1.014 million b/d, equivalent to 42.59 million gallons daily. Production was 0.5% above the same week last year and 0.9% more than the five-year average for the week. The four-week average ethanol production rate ticked 0.2% higher to 1.014 million b/d, equivalent to an annualized rate of 15.54 billion gallons (bg).

Ethanol stocks expanded 3.8% to a 45-week high of 25.3 million barrels. Stocks were 0.6% less than a year ago yet 4.5% above the five-year average. Inventories built in the Gulf Coast (PADD 3)—spiking 22.8%—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, declined 1.8% to 8.27 million b/d (126.84 bg annualized). Demand was 3.5% less than a year ago and 5.3% below the five-year average.

Conversely, refiner/blender net inputs of ethanol recovered by 6.7% to 874,000 b/d, equivalent to 13.40 bg annualized and a high for the year. Net inputs were 4.7% above the same week last year and 1.8% above the five-year average.

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

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