STEO says COVID-19 pressure to remain on ethanol demand through 2021

In Washington, Reuters reports that Energy Information Administration data shows in its Short Term Energy Outlook that ethanol consumption is likely to remain under pressure through 2021 due to COVID-19. Although it expects negative impacts to be felt over about 18 months, it says the strongest hit will occur during Q2 2020 and then begin to ease up as restrictions on the economy begin to lift. The agency estimates monthly consumption during Q2 to be just 29 million gallons per day compared to more than 40 million gallons per day during the same period last year.