The Energy Information Administration says ethanol output dropped to a three-month low while inventories hit the lowest point since November.
Ethanol production dropped to an average of 1.007 million barrels a day during the week ending on August 25. The EIA report says that’s down from 1.048 million barrels during the previous week and the lowest level since May 26. In the Midwest, by far the largest-producing region in the country, output dropped to 952,000 barrels a day from 992,000 the prior week. Rocky Mountain production fell by 2,000 barrels a day to 11,000. That was the entirety of the losses as West Coast output was unchanged at 10,000 barrels a day.
East Coast and Gulf Coast production each rose by 1,000 barrels per day, coming in at 13,000 barrels a day and 22,000 barrels a day, respectively. Ethanol inventories dropped to 21.61 million barrels, the lowest since November 11.