According to the Renewable Fuels Association, ethanol demand moved higher in June, to a new all-time record of 443,000 barrels per day (b/d). For the first six months of the year, ethanol demand is averaging 420,000 b/d.
Ethanol production also edged higher in June, though continuing to trail the ethanol demand. U.S. ethanol producers added 418,000 b/d of ethanol supply to the tight U.S. gasoline market, according to the Energy Information Administration (EIA). For the first six months of the year, ethanol production has averaged 393,000 b/d, producing just under three billion gallons of ethanol.