Article courtesy of Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending January 12, ethanol production pulled back 0.8% to 1.054 million b/d, equivalent to 44.27 million gallons daily. Yet, output was 4.6% more than the same week last year and 3.6% above the five-year average for the week. The four-week average ethanol production rate decreased 0.4% to 1.068 million b/d, which is equivalent to an annualized rate of 16.37 billion gallons (bg).
Ethanol stocks swelled 5.4% to a 43-week high of 25.7 million barrels. Stocks were 9.8% more than the same week last year and 8.7% above the five-year average. Inventories built across all regions.
The volume of gasoline supplied to the U.S. market, a measure of implied demand, ebbed 0.7% to 8.27 million b/d (126.76 bg annualized). Demand was 2.7% more than a year ago but 1.4% below the five-year average.
Refiner/blender net inputs of ethanol improved 3.9% to 835,000 b/d, equivalent to 12.80 bg annualized. Net inputs were 0.1% more than a year ago and 0.2% above the five-year average.
Ethanol exports were estimated at 95,000 b/d (4.0 million gallons/day), or 39.5% below the prior week. There were zero imports of ethanol recorded for the 17th consecutive week.
