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Source: Renewable Fuels Association (RFA) news release

According to EIA data analyzed by the Renewable Fuels Association for the week ending July 2, ethanol production increased by 8,000 barrels per day (b/d), or 0.9%, to 1.067 million b/d, equivalent to 44.81 million gallons daily. Production was 16.7% above the same week last year, which was affected by the pandemic, and 1.9% higher than the same week in 2019. However, the four-week average ethanol production volume ticked down 0.1% to 1.049 million b/d, equivalent to an annualized rate of 16.08 billion gallons (bg).

Ethanol stocks tightened for the first time in six weeks, declining 2.0% to 21.1 million barrels. Stocks were 2.6% above the year-ago level but 8.1% below the same week in 2019. Inventories declined across all regions except the West Coast (PADD 5).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, leapt 9.5% to a record high of 10.04 million b/d (153.96 bg annualized). Gasoline demand was 14.6% above a year ago and 3.0% greater than the same week in 2019.

Refiner/blender net inputs of ethanol rose 1.2% to 949,000 b/d, the highest level since Aug. 2019 and equivalent to 14.55 bg annualized. Net inputs were 11.6% above a year ago and 0.6% higher than the same week in 2019.

There were zero imports of ethanol recorded after 23,000 b/d hit the books the prior week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2021.)

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