Article courtesy of the Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending January 26, ethanol production snapped back 21.1% to 991,000 b/d, equivalent to 41.62 million gallons daily. Still, output was 3.6% less than the same week last year and 1.9% below the five-year average for the week. The four-week average ethanol production rate declined 1.5% to a 36-week low of 981,000 b/d, which is equivalent to an annualized rate of 15.04 billion gallons (bg).
Ethanol stocks drew down 6.0% to a 4-week low of 24.3 million barrels. Stocks were 0.7% less than the same week last year and 0.6% below the five-year average. Inventories thinned across all regions.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, turned up 3.4% to 8.14 million b/d (124.85 bg annualized). Yet, demand was 4.1% less than a year ago and 4.2% below the five-year average.
Similarly, refiner/blender net inputs of ethanol increased 3.8% to 828,000 b/d, equivalent to 12.69 bg annualized. Net inputs were 1.2% less than a year ago and 1.7% below the five-year average.
Ethanol exports were estimated at 137,000 b/d (5.8 million gallons/day), or 13.2% above the prior week. There were zero imports of ethanol recorded for the 19th consecutive week.
