The latest Energy Information Administration data analyzed by the Renewable Fuels Association (RFA) shows ethanol production is lower but still averaging a little over a million barrels a day, while the ethanol blend rate dropped to its lowest point since the beginning of this year.
“Although ethanol demand was the most robust in 16 weeks, ethanol content in gasoline supplied to the market slipped to the lowest blend rate in 14 weeks at 9.30 percent,” according to RFA Executive Vice President Geoff Cooper.
Ethanol production averaged 1.009 million barrels per day (b/d)—or 42.38 million gallons daily. Production relaxed by 25,000 b/d from the week before to a 14-week low. The four-week average for ethanol production slumped to 1.030 million b/d—the lowest in 24 weeks—for an annualized rate of 15.79 billion gallons.
Ethanol stocks are down 2.3% to 21.3 million barrels, the tightest reserves on hand in 23 weeks, and there were no imports for the 19th week in a row.