Jul 29, 2020
U.S. ethanol production was up approximately 5.5 percent the week ending July 24, while weekly ending stocks of fuel ethanol increased by about 2.4 percent, according to data released by the U.S. Energy Information Administration on July 29.
U.S. ethanol production averaged approximately 958,000 barrels per day the week ending July 24, up from an average of 908,000 barrels per day the previous week. Ethanol production has been trending upward since hitting a low of 537,000 barrels per day the week ending April 24 due to market impacts caused by the COVID-19 pandemic. Production was down 73,000 barrels per day when compared to the same week of last year, and down 121,000 barrels per day when compared to the final week of February, before COVID-19 began to impact U.S. fuel markets.
Weekly U.S. ethanol ending stocks increased to 20.272 million barrels the week ending July 24, up from 19.801 million barrels the previous week. Stocks of fuel ethanol have fallen significantly over the past few months after reaching a record high of 27.689 million barrels the week ending April 17. When compared to the same week of last year, ethanol ending stocks were down 4.196 million barrels.
Read the original story here.