This report courtesy of the Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending July 14, ethanol production increased 3.7% to 1.070 million b/d, equivalent to 44.94 million gallons daily, the highest level since early December. Output was 3.5% more than the same week last year and 5.3% above the five-year average for the week. The four-week average ethanol production rate edged up 0.4% to 1.053 million b/d, equivalent to an annualized rate of 16.14 billion gallons (bg).
Ethanol stocks expanded 2.2% to 23.2 million barrels, the most in nine weeks. Stocks were 1.6% less than a year ago but 4.2% above the five-year average. Inventories built across all regions except the Gulf Coast (PADD 3).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 1.1% to 8.86 million b/d (135.75 bg annualized). Demand was 3.9% more than a year ago but 3.5% below the five-year average.
Refiner/blender net inputs of ethanol rose 0.7% to 897,000 b/d, equivalent to 13.75 bg annualized. Net inputs were 1.1% more than the same week last year but 0.7% below the five-year average.
Ethanol exports were estimated at 86,000 b/d (3.6 million gallons per day), a 69% increase from the prior week. There were zero imports recorded for the 32nd consecutive week.
