Courtesy of the Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending May 26, ethanol production climbed 2.1% to a six-week high of 1.004 million b/d, equivalent to 42.17 million gallons daily. The volume produced was 6.3% less than the same week last year but 1.3% above the five-year average for the week. The four-week average ethanol production rate increased 0.7% to 985,000 b/d, equivalent to an annualized rate of 15.10 billion gallons (bg).
Ethanol stocks rose 1.3% to 22.3 million barrels. Stocks were 2.7% less than a year ago yet 2.0% above the five-year average. Inventories built across all regions except the East Coast (PADD 1) and Gulf Coast (PADD 3).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, slipped 3.6% to 9.10 million b/d (139.47 bg annualized). Yet, demand was 1.3% more than a year ago and 3.2% above the five-year average.
Refiner/blender net inputs of ethanol ticked 0.3% lower to 926,000 b/d, equivalent to 14.20 bg annualized. Net inputs were 0.3% more than the same week last year and 5.4% above the five-year average.
For the first time, EIA reported ethanol exports, which were estimated at 54,000 b/d (15.9 million gallons for the week). There were zero imports of ethanol recorded for the 25th consecutive week.
