Ethanol production thins out after 26 week high

July 8, 2018 |

In Washington, D.C., ethanol production averaged 1.067 million barrels per day (b/d)—or 44.81 million gallons daily, as output thinned by 5,000 b/d from the prior week, according to government data released this morning and analyzed by the Renewable Fuels Association. The four-week average for ethanol production increased to a 26-week high of 1.064 million b/d for an annualized rate of 16.31 billion gallons. Stocks of ethanol were 22.0 million barrels. That is a 1.4% build over last week. There were zero imports recorded for the 30th week in a row.

Average weekly gasoline demand climbed 1.4% to 414.5 million gallons (9.869 million barrels) daily. This is equivalent to 151.29 gallons annualized. Refiner/ blender input of ethanol ticked upward 0.3% to 950,000 b/d, equivalent to 14.56 billion gallons annualized and the strongest demand in 44 weeks. However, the ethanol content in gasoline supplied to the market has not been keeping pace with burgeoning gasoline consumption. The average again clipped down to 9.63%—even lower than the 9.74% blend rate a year ago. Expressed as a percentage of daily gasoline demand, daily ethanol production decreased to 10.81%.

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Category: Producer News

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