According to EIA data analyzed by the Renewable Fuels Association for the week ending July 17, ethanol production slowed by 2.5%, or 23,000 barrels per day (b/d), to 908,000 b/d—equivalent to 38.14 million gallons daily. Production remains tempered due to COVID-19 disruptions, coming in 12.6% below the same week in 2019. The four-week average ethanol production rate ticked 0.3% higher to 913,000 b/d, equivalent to an annualized rate of 14.00 billion gallons.
Ethanol stocks thinned by 3.9% to 19.8 million barrels and 16.4% below year-ago volumes. Inventories tightened across all regions and are at their lowest level since the last week of 2016.