Ethanol production up 11.2% same week last year but 3.7% less than two years ago

In Washington, D.C., ethanol production increased by 6,000 barrels per day (b/d), or 0.6%, to 1.041 million b/d, equivalent to 43.72 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production was 11.2% more than the same week last year, which was affected by the pandemic, but 3.7% less than the same week two years ago. The four-week average ethanol production volume decreased 0.2% to 1.034 million b/d, equivalent to an annualized rate of 15.85 billion gallons (bg).

Ethanol stocks grew 5.6% to 25.9 million barrels, the largest reserves since late April 2020. Stocks were 6.3% higher than a year ago and 10.1% more than the same week two years ago. Inventories built across all regions, including record-high reserves in the Midwest (PADD 2).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, declined 3.3% to 8.23 million b/d (126.10 bg annualized). Gasoline demand registered 5.9% higher than a year ago but 7.9% lower than the same week two years ago.

Refiner/blender net inputs of ethanol improved by 3.0% to 819,000 b/d, equivalent to 12.56 bg annualized and a five-week high. Net inputs were 5.3% more than a year ago but 7.8% less than the same week two years ago.

There were zero imports of ethanol recorded after 36,000 b/d hit the books the prior week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of November 2021.)