Sunday, July 21, 2024
HomeMarketsWeekly Ethanol Production for 12/22/2023

Weekly Ethanol Production for 12/22/2023

Article courtesy of Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending December 22, ethanol production sprang 3.4% higher to 1.107 million b/d, equivalent to 46.49 million gallons daily and the largest weekly volume since the end of October 2021. Output was 15.0% more than the same week last year and 10.0% above the five-year average for the week. The four-week average ethanol production rate increased 2.3% to 1.082 million b/d, which is equivalent to an annualized rate of 16.59 billion gallons (bg).

Ethanol stocks swelled 2.7% to a 35-week high of 23.5 million barrels. Stocks were 4.5% less than the same week last year but 4.0% above the five-year average. Inventories built across all regions except the Rocky Mountains (PADD 4) and West Coast (PADD 5).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, sprang 4.7% to 9.17 million b/d (140.55 bg annualized). Demand was 1.7% less than a year ago but 2.4% above the five-year average.

Refiner/blender net inputs of ethanol edged 0.6% higher to a 9-week high of 906,000 b/d, equivalent to 13.89 bg annualized. Net inputs were 1.1% less than a year ago yet 3.0% above the five-year average.

Ethanol exports were estimated at 132,000 b/d (5.5 million gallons/day), which is 32.7% below the prior week’s high mark. There were zero imports of ethanol recorded for the 14th consecutive week.

- Advertisment -

Latest Stories