Oct 15, 2020
U.S. fuel ethanol production increased by nearly 2 percent the week ending Oct. 9, according to data released by the U.S. Energy Information Administration on Oct. 15. Stocks also increased by approximately 2 percent.
U.S. ethanol production increased to an average of 937,000 barrels per day the week ending Oct. 7, up 14,000 barrels per day from the average of 923,000 barrels per day reported for the previous week. When compared to the 971,000 barrels per day produced during the same week of 2019, production was down 34,000 barrels per day.
Production of fuel ethanol has stabilized in recent months after falling to historic lows last spring due to the 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 fuel began to recover. Production levels since July have generally stabilized in the range of 900,000 to 950,000 barrels per day, down roughly 10 percent when compared to the same period of last year.
Weekly ending stocks for fuel ethanol increased to 20.008 million barrels the week ending Oct. 9, up 336,000 barrels when compared to the 19.672 million barrels reported for the previous week. Stocks of fuel ethanol have fallen over the past few 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, ethanol stocks were down 2.053 million barrels.
Read the original story here.