Article courtesy of Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending August 18, ethanol production declined 2.0% to 1.048 million b/d, equivalent to 44.02 million gallons daily. However, output was 6.2% more than the same week last year and 5.7% above the five-year average for the week. The four-week average ethanol production rate tapered 1.0% to 1.052 million b/d, equivalent to an annualized rate of 16.13 billion gallons (bg).
Ethanol stocks drew down 2.8% to a 6-week low of 22.8 million barrels. Stocks were 4.3% less than the same week last year but 2.2% above the five-year average. Inventories thinned across all regions.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, inched 0.7% higher to 8.91 million b/d (136.59 bg annualized). Demand was 5.6% more than a year ago but 5.1% below the five-year average.
Refiner/blender net inputs of ethanol pared back 1.2% to a 4-week low of 915,000 b/d, equivalent to 14.03 bg annualized. Net inputs were 0.4% less than the same week last year and 0.6% below the five-year average.
Ethanol exports were estimated at 94,000 b/d (3.9 million gallons per day), a 19.0% increase over the prior week. There were zero imports recorded for the 37th consecutive week.
