Ethanol production up 1.5% over last week, up 55.6% over same week last year

In Washington, D.C., ethanol production expanded by 15,000 barrels per day (b/d), or 1.5%, to 1.024 million b/d, equivalent to 43.01 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production was 55.6% more than the same week last year, which was affected by the pandemic and especially weather-induced infrastructure issues, but 2.8% less than the same week two years ago. The four-week average ethanol production volume decreased 0.3% to 1.017 million b/d, equivalent to an annualized rate of 15.59 billion gallons (bg).

Ethanol stocks ticked up 0.1% to 25.5 million barrels. Stocks were 11.9% higher than a year ago and 3.2% more than the same week two years ago. Inventories built in the Midwest (PADD 2) and West Coast (PADD 5) but scaled back across the remaining regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 1.0% to 8.66 million b/d (132.71 bg annualized). Gasoline demand registered 20.1% higher than a year ago but 4.2% less than the same week two years ago.

Refiner/blender net inputs of ethanol perked up by 4.3% to 871,000 b/d, equivalent to 13.35 bg annualized and an eight-week high. Net inputs were 20.1% more than a year ago but 3.4% less than the same week two years ago.

There were zero imports of ethanol recorded for the fourth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of December 2021.)