Ethanol production up, first rise since July
U.S. ethanol production moved higher last week, the first week to week gain since early July.
The U.S. Energy Information Administration says production averaged 923,000 barrels a day, up 18,000 on the week, but down 18,000 on the year. That’s the second week in a row with below year ago production due to high gas prices and renewed concerns about fuel demand caused by COVID-19.
The Renewable Fuels Association says net inputs by refiners and blenders moved lower, while the volume of gasoline supplied to consumers was fractionally higher, with both above last year’s levels.
The domestic ethanol supply tightened for the third week in a row, notching a 13-week low, declining 720,000 barrels on the week to 20.39 million, which is still 397,000 more than a year ago.
The USDA says ethanol prices in the Midwest were lower last week.