US ethanol output hits 16-week low

In Washington, according to EIA data as analyzed by the Renewable Fuels Association, ethanol production averaged 948,000 barrels per day (b/d)—or 39.82 million gallons daily. That is down 4,000 b/d from the week before and the lowest rate of output in 16 weeks. The four-week average for ethanol production stood at 958,000 b/d for an annualized rate of 14.69 billion gallons.

Stocks of ethanol stood at 19.0 million barrels. That is a 2.0% increase from last week and a four-week high. Ethanol imports appeared for only the second time this year, with 12,000 b/d entering the U.S. last week. Gasoline demand for the week averaged a healthy 396.4 million gallons daily. Refiner/blender input of ethanol set an all-time record, averaging 921,000 b/d (or 14.12 billion gallons annualized). Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.04%, down slightly from last week.

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