Ethanol production below 12% same week last year

In Washington, D.C., ethanol production ticked 0.1% higher, or 1,000 barrels per day (b/d), to 935,000 b/d—equivalent to 39.27 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production remained 12.0% below the same week last year. The four-week average ethanol production rate declined 1.5% to 950,000 b/d, equivalent to an annualized rate of 14.56 billion gallons (bg).

Ethanol stocks decreased for the first time in ten weeks, down 0.9% to 23.3 million barrels, which was 3.7% above a year-ago. Inventories drew down across all regions except the Gulf Coast (PADD 3).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, slumped 8.5% during the holiday week to 7.44 million b/d (114.07 bg annualized). Gasoline demand was 8.5% less than a year ago.

Refiner/blender net inputs of ethanol sank 12.1% to a 32-week low of 719,000 b/d, equivalent to 11.02 bg annualized. This was 10.2% below the year-earlier level as a result of the continuing effects of the COVID-19 pandemic.

There were zero imports of ethanol recorded for the week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of October 2020.)