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Weekly Ethanol Production for 4/10/2020 | KTIC Radio

Weekly Ethanol Production for 4/10/2020

Weekly Ethanol Production for 4/10/2020

This morning, the EIA released its Weekly Petroleum Status Report for the week ending April 10, which continued to reflect the impact on the ethanol industry from the social-distancing and stay-at-home restrictions associated with COVID-19.

 

According to EIA data analyzed by the Renewable Fuels Association, ethanol production shrank 15.2%, or 101,000 barrels per day (b/d), to 570,000 b/d—the lowest level since the EIA began reporting ethanol production statistics in 2010. Production was 44% below the same week in 2019. The four-week average ethanol production rate dropped 13.1% to 772,000 b/d, equivalent to an annualized rate of 11.83 billion gallons.

 

Ethanol stocks climbed 1.4% to a record 27.5 million barrels, eclipsing last week’s previous peak. Inventories shifted higher across all regions except the Gulf Coast (PADD 3) and Rocky Mountains (PADD 4).

 

The volume of gasoline supplied to the U.S. market, a measure of implied demand, ticked up 0.3% from last week’s record low to 5.081 million b/d

(77.89 bg annualized), yet landed 46% lower than a year ago.

 

Refiner/blender net inputs of ethanol followed, rising 0.8% from last week’s record low to 506,000 b/d, equivalent to 7.76 bg annualized, which was 45% below the year-earlier level.

 

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

 

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