Ethanol production increase slightly to 976,000 bpd

In Washington, according to EIA data analyzed by the Renewable Fuels Association for the week ending April 28, ethanol production increased 0.9 percent to 976,000 b/d, equivalent to 40.99 million gallons daily. The volume produced was 0.7 percent more than the same week last year and 6.2 percent above the five-year average for the week. The four-week average ethanol production rate decreased 0.6 percent to 982,000 b/d, equivalent to an annualized rate of 15.05 billion gallons (bg).

Ethanol stocks receded 3.9 percent to a 21-week low of 23.4 million barrels. Stocks were 2.2 percent less than a year ago but 2.1 percent above the five-year average. Inventories thinned across all regions except the Rocky Mountains (PADD 4) and West Coast (PADD 5).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, slumped 9.4 percent from the prior week’s 69-week high to 8.62 million b/d (132.11 bg annualized). Demand was 2.7 percent less than a year ago and 2.1 percent below the five-year average.

Conversely, refiner/blender net inputs of ethanol rose 1.3 percent to 911,000 b/d, equivalent to 13.97 bg annualized and a high for the year. Net inputs were 1.8 percent more than the same week last year and 8.0 percent above the five-year average.

There were zero imports of ethanol recorded for the twenty-first consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of February 2023.)