US ethanol production dips to 15.18 billion gallons annual rate, while exports fall to 9-month low
According to EIA data as analyzed by the Renewable Fuels Association, US ethanol production averaged 984,000 barrels per day or 41.33 million gallons daily. That is down 19,000 b/d from the week before. The four-week average for ethanol production stood at 990,000 b/d for an annualized rate of 15.18 billion gallons. Stocks of ethanol stood at 21.6 million barrels. That is a 1.8% increase from last week and a nine-week high.
U.S. ethanol exports totaled 55.7 million gallons in May, a considerable 42% drop (40 mg) from April, according to government data released and analyzed by the Renewable Fuels Association today. Monthly ethanol exports have dipped lower only twice over the past two years. Canada received 21.5 mg of U.S. ethanol in May, displacing China as the top destination. Still, China was a close second, bringing in 19.6 mg of U.S. product. Together, the two countries accounted for three-fourths of all U.S. ethanol exports in May. Year-to-date ethanol exports reached 400.7 mg, meaning the industry is on pace to ship 962 mg in 2016.
Gasoline demand for the week averaged 409.7 million gallons (9.755 million barrels) daily. Gasoline demand has averaged 9.700 million b/d—or 148.7 billion gallons annualized—over the last eight weeks. Refiner/blender input of ethanol averaged 957,000 b/d—a new all-time record that is equivalent to 14.67 billion gallons annualized.
Category: Fuels
