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Weekly Ethanol Production for 9/8/2023

Article courtesy of the Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending September 8, ethanol production expanded 2.7% to 1.039 million b/d, equivalent to 43.64 million gallons daily. Output was 7.9% more than the same week last year and 6.5% above the five-year average for the week. Yet, the four-week average ethanol production rate declined 0.8% to 1.026 million b/d, equivalent to an annualized rate of 15.73 billion gallons (bg).

Ethanol stocks slid 2.1% lower to 21.2 million barrels—the smallest volume since the latter part of December 2021. Stocks were 7.3% less than the same week last year and 2.6% below the five-year average. Inventories thinned across all regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, dropped 10.9% to a 30-week low of 8.31 million b/d (127.35 bg annualized). Demand was 2.2% less than a year ago and 6.3% below the five-year average.

Refiner/blender net inputs of ethanol curbed just 0.8% to an 8-week low of 899,000 b/d, equivalent to 13.78 bg annualized. Net inputs were 0.6% more than the same week last year and the five-year average.

Ethanol exports were estimated at 68,000 b/d (2.9 million gallons/day), a 17.1% decrease from the prior week. There were zero imports of ethanol recorded after 22,000 b/d hit the books the prior week.

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