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Weekly Ethanol Production for 12/1/2023

Article courtesy of the Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending December 1, ethanol production jumped 6.4% to a 19-week high of 1.076 million b/d, equivalent to 45.19 million gallons daily. Output was 0.1% less than the same week last year but 2.0% above the five-year average for the week. The four-week average ethanol production rate increased 0.9% to 1.040 million b/d, which is equivalent to an annualized rate of 15.94 billion gallons (bg).

Ethanol stocks remained level at 21.4 million barrels. However, stocks were 7.8% less than the same week last year and 3.0% below the five-year average. Inventories built across all regions except the Midwest (PADD 2) and Gulf Coast (PADD 3).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, rebounded 3.2% to 8.47 million b/d (129.78 bg annualized). Demand was 1.3% more than a year ago but 1.2% below the five-year average.

Refiner/blender net inputs of ethanol curbed 0.8% to 864,000 b/d, equivalent to 13.25 bg annualized and the smallest weekly volume since mid-February. Yet, net inputs were 1.9% more than a year ago and 2.1% above the five-year average.

Ethanol exports were estimated at 75,000 b/d (3.2 million gallons/day), roughly half the prior week’s volume. There were zero imports of ethanol recorded for the eleventh consecutive week.

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