Article and info courtesy of Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending June 2, ethanol production increased 3.2% to 1.036 million b/d, equivalent to 43.51 million gallons daily, the highest level since early December. Output was 0.3% less than the same week last year but 1.7% above the five-year average for the week. The four-week average ethanol production rate rose 1.7% to 1.002 million b/d, equivalent to an annualized rate of 15.36 billion gallons (bg).
Ethanol stocks expanded 2.8% to 22.9 million barrels, the second straight increase after five weeks of declines. Stocks were 2.9% less than a year ago yet 4.9% above the five-year average. Inventories built across all regions except the East Coast (PADD 1) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, rose 1.3% to 9.22 million b/d (139.47 bg annualized). Demand was 0.2% more than a year ago and 1.7% above the five-year average.
Refiner/blender net inputs of ethanol slid 4.2% to 887,000 b/d, equivalent to 13.60 bg annualized. Net inputs were 1.2% less than the same week last year and 0.7% below the five-year average.
Ethanol exports were estimated at 97,000 b/d (28.5 million gallons for the week), a sizable increase from the prior week. There were zero imports recorded for the 26th consecutive week.
