Friday, June 14, 2024
HomeMarketsWeekly Ethanol Production for 11/24/2023

Weekly Ethanol Production for 11/24/2023

Article courtesy of Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending November 24, ethanol production pared back 1.2% to a 7-week low of 1.011 million b/d, equivalent to 42.46 million gallons daily. Output was 0.7% 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 1.0% to 1.031 million b/d, which is equivalent to an annualized rate of 15.81 billion gallons (bg).

Ethanol stocks drew down 1.3% to 21.4 million barrels. Stocks were 6.8% less than the same week last year and 1.2% below the five-year average. Inventories thinned across all regions except the Midwest (PADD 2).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, slid 3.2% to an 8-week low of 8.21 million b/d (125.80 bg annualized). Demand was 1.3% less than a year ago and 4.6% below the five-year average.

Refiner/blender net inputs of ethanol declined 2.2% to 871,000 b/d, equivalent to 13.35 bg annualized and the smallest weekly volume since the start of March. Net inputs were 2.2% less than a year ago and 0.2% below the five-year average.

Ethanol exports were estimated at 151,000 b/d (6.3 million gallons/day), which is 93.6% more than the prior week and the largest volume since the EIA began reporting weekly estimates in May. There were zero imports of ethanol recorded for the tenth consecutive week.

- Advertisment -

Latest Stories