Ethanol Stocks, Production Decline
NEW YORK (DTN) -- The Energy Information Administration released data Wednesday showing domestic ethanol inventories tumbled while production fell sharply last week.
Total U.S. ethanol inventories decreased about 300,000 barrels (bbl), or 1.8%, to 18.3 million bbl during the week-ended Aug. 1, falling from a 17-month high posted a week prior, while up 9.2% year-over-year, EIA said.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stock draws occurred in PADD 1 East Coast and PADD 2 Midwest regions while PADD 3 Gulf Coast and PADD 5 West Coast posted builds, the data showed.
Domestic ethanol production decreased 52,000 barrels per day (bpd), or 5.5%, last week to 902,000 bpd, a three-month low. Output was 5.7% higher than a year prior while four-week average output was up 10%.
Blender inputs, a proxy for ethanol demand, were little changed, down 2,000 bpd at 875,000 bpd for the week profiled. Implied demand was up 1.2% from a year earlier while four-week average input was up 2.2% from a year earlier.
EIA reported no imports of ethanol last week after 7,000 bpd were received along the West Coast during the week-ended July 25.
(BM/AG)
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