EIA: Ethanol Stocks Soar; Output Down
NEW YORK (DTN) -- Ethanol inventories in the United States soared to a near three-year high last week while domestic production and blending demand both eased, according to data released Wednesday, Feb. 25, by the Energy Information Administration.
Total ethanol stocks jumped nearly 500,000 barrels (bbl), or 2.0%, to 21.6 million bbl during the week-ended Feb. 20, the highest level since the week-ended Apr. 27, 2012. Supplies were up 4.6 million bbl, or 26.8%, from a year earlier.
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Regionally, stock builds were reported along the major trade hubs in the East and West Coast plus the key Midwest.
PADD 1 East Coast supplies rose about 300,000 bbl to a near 2-1/2 year high of 7.6 million bbl while PADD 2 Midwest saw its supply 200,000 bbl higher at a four-year high of 7.5 million bbl. Stocks along the PADD 5 West Coast added 100,000 bbl to 2.5 million bbl. PADD 3 Gulf Coast and PADD 4 Rocky Mountains supplies fell 100,000 bbl each.
Plant production slumped 18,000 barrels per day (bpd), or 2.0%, last week to 947,000 bpd while up 4.5% year-over-year with four-week average output up 6.0%.
Blender inputs, a proxy for ethanol demand, fell 7,000 bpd, or 0.8%, to 845,000 bpd, while up 10,000 bpd or 1.2% on a year-over-year basis. Four-week average inputs were up 2.8%.
EIA also reported implied demand for motor gasoline increased 106,000 bpd to 8.915 million bpd, 4.5% higher than the same week last year.
(BM/AG)
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