Ethanol production 46% below the same week in 2019, lowest level since 2010
In Washington, D.C., the EIA released its Weekly Petroleum Status Report for the week ending April 17, which continued to reflect the impact on the ethanol industry from the social-distancing and stay-at-home restrictions associated with COVID-19.
According to EIA data analyzed by the Renewable Fuels Association, ethanol production declined 1.2%, or 7,000 barrels per day (b/d), to 563,000 b/d—the lowest level since the EIA began reporting ethanol production statistics in 2010. Production was 46% below the same week in 2019. The four-week average ethanol production rate dropped 14.4% to 661,000 b/d, equivalent to an annualized rate of 10.13 billion gallons.
Ethanol stocks rose 0.8% to a record 27.7 million barrels, eclipsing last week’s previous peak. However, the bulk of inventory growth occurred in the Gulf Coast (PADD 3), up 5.8%, with the East Coast (PADD 1), Rock Mountain (PADD 4), and West Coast (PADD 5) regions scaling back.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, continued to perk up, moving 4.5% higher to 5.311 million b/d (81.42 bg annualized) although coming in 44% lower than a year ago.
Refiner/blender net inputs of ethanol followed, rising 3.4% to 523,000 b/d, equivalent to 8.02 bg annualized, which was 44% below the year-earlier level.
There were no imports of ethanol recorded for the sixth straight week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of February 2020.)
Category: Fuels