The U.S. Energy Information Administration maintained its forecasts for 2024 and 2025 fuel ethanol production and exports in its latest Short-Term Energy Outlook, released Dec. 10. The outlook for 2024 ethanol blending was revised down. 

The EIA has maintained its forecast that fuel ethanol production will average 1.05 million barrels per day in both 2024 and 2025, up from 1.02 million barrels per day last year. On a quarterly basis, fuel ethanol production is currently expected to average 1.07 million barrels per day during the final quarter of 2024. Moving into 2025, production is expected to average 1.05 million barrels per day during the first quarter, 1.04 million barrels per day during the second quarter, 1.05 million barrels per day during the third quarter, and 1.07 million barrels per day during the fourth quarter. 

Net imports of fuel ethanol are expected to average -12,000 barrels per day this year and next year. Both forecasts were maintained from the November STEO. Net imports of fuel ethanol averaged -9,000 barrels per day in 2023.

The EIA lowered its forecast for 2024 fuel ethanol blending to 920,000 barrels per day, down from last month’s outlook of 930,000 barrels per day. The agency has maintained its forecast that fuel ethanol blending will average 930,000 barrels per day next year. Fuel ethanol blending averaged 930,000 barrels per day last year. 

Read the original story here.