Article courtesy of the RFA
According to EIA data analyzed by the Renewable Fuels Association for the week ending December 8, ethanol production ticked 0.2% lower to 1.074 million b/d, equivalent to 45.11 million gallons daily. Yet, output was 1.2% more than the same week last year and 3.0% above the five-year average for the week. The four-week average ethanol production rate increased 0.6% to 1.046 million b/d, which is equivalent to an annualized rate of 16.04 billion gallons (bg).
Ethanol stocks expanded 3.1% to 22.1 million barrels, which is the largest volume since mid-August. However, stocks were 9.5% less than the same week last year and 3.0% below the five-year average. Inventories built across all regions.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, scaled up 4.6% to a four-week high of 8.86 million b/d (135.81 bg annualized). Demand was 7.3% more than a year ago but 0.1% below the five-year average.
Refiner/blender net inputs of ethanol improved 2.1% to 882,000 b/d, equivalent to 13.52 bg annualized. Net inputs were 0.3% more than a year ago and the five-year average.
Ethanol exports were estimated at 124,000 b/d (5.2 million gallons/day), or 65.3% above the prior week’s volume. There were zero imports of ethanol recorded for the twelfth consecutive week.
