According to Energy Information Administration data analyzed by the Renewable Fuels Assn. (RFA), ethanol production for the week ended Jan. 11 pressed 5.1% higher to the largest volume in six weeks, at an average of 1.051 million barrels per day (b/d), or 44.14 million gal. daily. The four-week average for ethanol production rose fractionally to 1.026 million b/d, for an annualized rate of 15.73 billion gal., but was still 1.8% lower than the level a year ago.
Stocks have edged 0.1 million barrels higher for three straight weeks, settling most recently at 23.4 million barrels.
Zero imports were recorded for the ninth week in a row, RFA noted.
Average weekly gasoline supplied to the market pulled back 1.9% to 8.565 million b/d (359.7 million gal. per day), equivalent to 131.30 billion gal. annualized and the lowest level since February 2017. Refiner/blender input of ethanol rebounded 5.8% (up 47,000 b/d) to 862,000 b/d — equivalent to 13.21 billion gal. annualized.
Given the lackluster volume of gasoline supplied to the market, RFA said daily ethanol production increased to a 58-week high of 12.27% of daily gasoline supplied.