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ETHANOL'S REMARKABLE VOLUME PRODUCTION INCREASE CONTINUES
Source: Renewable Fuels Assn news release



According to EIA data analyzed by the Renewable Fuels Association for the week ending June 19, ethanol production jumped 6.2%, or 53,000 barrels per day (b/d), to 893,000 b/d-equivalent to 37.51 million gallons daily and a thirteen-week high. However, production remains tempered due to COVID-19 disruptions, coming in 16.7% below the same week in 2019. The four-week average ethanol production rate rose 5.3% to 834,000 b/d, equivalent to an annualized rate of 12.79 billion gallons.

Ethanol stocks narrowed 1.5% to 21.0 million barrels. Reserves were even with the last week of December and 2.5% below year-ago volumes. Inventories tightened across all regions except the Gulf Coast (PADD 3).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, leapt 9.4% to 8.608 million b/d (131.96 bg annualized). However, gasoline demand was 9.1% lower than a year ago.

Refiner/blender net inputs of ethanol increased 5.3% to 831,000 b/d, equivalent to 12.74 bg annualized but 12.6% below the year-earlier level.

There were no imports of ethanol recorded for the fifteenth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of April 2020.)


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