Ethanol production recovered to the highest level since July last week, according to EIA data analyzed by the Renewable Fuels Association.
For the week ending October 1, ethanol production vaulted by 64,000 barrels per day (b/d), or 7.0%, to an eight-week high of 978,000 b/d, equivalent to 41.08 million gallons daily. Production was 6.0% above the same week last year, which was affected by the pandemic, and 1.6% above the same week in 2019. The four-week average ethanol production volume increased 1.4% to 938,000 b/d, equivalent to an annualized rate of 14.38 billion gallons (bg).
Ethanol stocks retreated 1.4% to a 19.9 million barrels, the lowest weekly reserves since May. Stocks were 1.3% above the year-ago level but 6.1% below the same week in 2019.