Nov 25, 2020
U.S. fuel ethanol production increased by nearly 3 percent the week ending Nov. 20, according to data released by the U.S. Energy Information Administration on Nov. 25. Stocks expanded by more than 3 percent, and for the first time in several months were up when compared to the same period of 2019.
U.S. ethanol production increased to an average of 990,000 barrels per day the week ending Nov. 20, up 28,000 barrels per day when compared to the 962,000 barrels per day of production reported for the previous week. The 990,000 barrels per day of production reported for the week ending Nov. 20 is the highest weekly average production level reported by the EIA since the week ending March 20, when production was at 1.005 million barrels per day. When compared to the 1.059 million barrels per day of production reported for the same week of last year, production was down 69,000 barrels per day.
Production of fuel ethanol has stabilized in recent months after falling to historic lows in the spring of 2020 due to market impacts caused by the COVID-19 pandemic. Ethanol production hit a low of 537,000 barrels per day the week ending April 24, but began to recover in May and June as travel restrictions associated with the pandemic began to ease and demand for transportation fuels began to recover. Production levels since July have been maintained at a level above 900,000 barrels per day, but are down roughly 10 percent when compared to the same period of last year.
Weekly ending stocks for fuel ethanol increased to 20.866 million barrels the week ending Nov. 20, up 663,000 barrels when compared to the 20.203 million barrels of stocks reported for the previous week. Stocks of fuel ethanol have fallen over the past several months after reaching a record high of 27.289 million barrels the week ending April 17. When compared to the same week of last year, stocks were up 589,000.
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