U.S. ethanol production climbed to its highest level in 13 weeks during the week ending October 23, according to the Renewable Fuels Association’s analysis of Energy Information Administration data.
Production averaged 1.12 million barrels per day, up 2.2 percent from the previous week and 2.5 percent above year-ago levels. Output also exceeded the five-year average by 4.1 percent.
Ethanol inventories edged down 0.1 percent to 24.5 million barrels, but remained 9.6 percent higher than a year ago and 14 percent above the five-year average.
Meanwhile, gasoline supplied to the U.S. market, a measure of demand, fell 6.9 percent to 8.36 million barrels daily. That was the lowest level since late December and 6.3 percent below the same week last year. Refinery and blender use of ethanol rose 1.8 percent to a four-week high of 907,000 barrels per day. Ethanol exports, however, dropped 12.1 percent to 116,000 barrels daily.
NAFB news service
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