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Weekly Ethanol Production for 9/22/2023

According to EIA data analyzed by the Renewable Fuels Association for the week ending September 22, ethanol production climbed 3.0% to 1.009 million b/d, equivalent to 42.38 million gallons daily. Output was 18.0% more than the same week last year and 9.1% above the five-year average for the week. The four-week average ethanol production rate ticked up 0.1% to 1.010 million b/d, equivalent to an annualized rate of 15.48 billion gallons (bg).

Ethanol stocks mounted 1.7% to a 5-week high of 22.0 million barrels. Stocks were 2.8% less than the same week last year but 0.9% above the five-year average. Inventories built across all regions except the East Coast (PADD 1) and West Coast (PADD 5).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, rebounded 2.5% to 8.62 million b/d (132.13 bg annualized). However, demand was 2.3% less than a year ago and 4.2% below the five-year average.

Refiner/blender net inputs of ethanol moved marginally higher to 892,000 b/d, equivalent to 13.67 bg annualized. Yet, net inputs were 2.1% less than the same week last year and 0.9% below the five-year average.

Ethanol exports were estimated at 77,000 b/d (3.2 million gallons/day), a 29.4% decrease from the prior week. There were zero imports of ethanol recorded after 20,000 b/d hit the books the prior week.

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