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Weekly Ethanol Production for 11/17/2023

Article courtesy of the Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending November 17, ethanol production slowed 2.3% to a 6-week low of 1.023 million b/d, equivalent to 42.97 million gallons daily. Output was 1.7% less than the same week last year and 2.0% below the five-year average for the week. The four-week average ethanol production rate decreased 0.4% to 1.041 million b/d, which is equivalent to an annualized rate of 15.96 billion gallons (bg).

Ethanol stocks grew 3.3% to a 7-week high of 21.7 million barrels. Stocks were 5.2% less than the same week last year but 1.1% above the five-year average. Inventories built across all regions except the East Coast (PADD 1) and Rocky Mountains (PADD 4).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, slumped 5.2% to 8.48 million b/d (130.00 bg annualized)—the smallest weekly volume since September. Demand was 1.8% more than a year ago yet 4.0% below the five-year average.

Refiner/blender net inputs of ethanol declined 1.3% to 891,000 b/d, equivalent to 13.66 bg annualized. Still, net inputs were 0.6% more than a year ago and 0.4% above the five-year average.

Ethanol exports were estimated at 78,000 b/d (3.3 million gallons/day), which is 8.2% less than the prior week. There were zero imports of ethanol recorded for the ninth consecutive week.

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