Ethanol production slowed 2.6% over last week

In Washington, D.C., ethanol production slowed by 27,000 barrels per day (b/d), or 2.6%, to 997,000 b/d, equivalent to 41.87 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production was 17.4% more than the same week last year, which was affected by the pandemic and the continued effects of adverse weather, but 7.6% less than the same week two years ago. The four-week average ethanol production volume decreased 1.1% to 1.006 million b/d, equivalent to an annualized rate of 15.42 billion gallons (bg).

Ethanol stocks tightened by 2.3% to 24.9 million barrels. Stocks were 11.2% higher than a year ago but 0.1% less than the same week two years ago. Inventories thinned across all regions except the Midwest (PADD 2), which recorded record high reserves.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, rose 1.0% to 8.74 million b/d (134.03 bg annualized). Gasoline demand registered 7.3% higher than a year ago but 4.8% less than the same week two years ago.

Refiner/blender net inputs of ethanol increased by 0.6% to 876,000 b/d, equivalent to 13.43 bg annualized and a nine-week high. Net inputs were 7.6% more than a year ago but 2.3% less than the same week two years ago.

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