Ethanol production highest in 28 weeks

In Washington, D.C., the Renewable Fuels Association reports that according to EIA data, ethanol production averaged 1.059 million barrels per day (b/d)—or 44.48 million gallons daily. That is up 46,000 b/d—a 4.6% jump from the week before and the highest volume in 28 weeks.

The four-week average for ethanol production increased to 1.021 million b/d for an annualized rate of 15.65 billion gallons. Stocks of ethanol were 21.8 million barrels. That is a 2.3% increase from last week. Imports of ethanol were 37,000 b/d after zero imports last week. This marks only the fourth week in a year that volumes were recorded. Total ethanol supply (production, stocks and imports) reached a new record at 17.72 billion gallons annualized, besting the prior high set on Aug. 19, 2016 (17.20 billion gallons).

Average weekly gasoline demand decreased 2.8% to 399.9 million gallons (9.522 million barrels) daily. This is equivalent to 146.0 billion gallons annualized. Refiner/blender input of ethanol increased 1.1% to 948,000 b/d, equivalent to 14.53 billion gallons annualized. Expressed as a percentage of daily gasoline demand, daily ethanol production increased to a 21-week high of 11.12%.