EIA: Ethanol Stocks Rise to 2-Year High
NEW YORK (DTN) -- The Energy Information Administration released data Wednesday showing ethanol inventories in the United States increased to a near two-year high while production and demand both fell last week.
Total ethanol stockpiles jumped nearly 800,000 barrels (bbl), or 4.2%, to 18.845 million bbl during the week-ended Jan. 2, while up 2.7 million bbl, or 16.8%, from the supply level seen a year earlier.
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Most of the increase occurred in the producer PADD 2 Midwest region, where supplies spiked 400,000 bbl to 6.7 million bbl, with supply also building in the PADD 3 Gulf Coast and PADD 5 West Coast regions.
Plant production declined for the second straight week, plunging 23,000 barrels per day (bpd), or 2.4%, to 949,000 bpd, while up 3.3% year-over-year. Four-week average output at 976,000 bpd was up 5.9% from year prior.
Blender inputs, a proxy for ethanol demand, fell 67,000 bbl, or 7.8%, to 789,000 bpd, while up 33,000 bbl, or 3.9%, on year-over-year basis. The four-week average input rate at 845,000 bpd was up 3.4% from a year ago.
Gasoline demand decreased 805,000 bpd to 8.8 million bpd. Over the last four weeks, motor gasoline product supplied averaged over 9.3 million bpd, up 5.5% from the same period last year.
(BM/AG)
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