Ethanol Production Off Record High
NEW YORK (DTN) -- Domestic ethanol inventories extending higher last week, rising by 370,000 barrels (bbl), or 2.0%, to a 5-1/2 month high of nearly 20.0 million bbl, bringing the year-over-year surplus to 2.7 million bbl or 15.7%, the U.S. Energy Information Administration reported Wednesday.
Regionally, stocks rose mostly along the West Coast, where all of last week's 36,000 bpd ethanol imports were received. The data showed PADD 5 West Coast stocks rose 395,000 bbl to 2.724 million bbl.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
There were also a 161,000 bbl stock build in the Midwest and a 16,000 bbl rise in the Rocky Mountain region, but East Coast supplies eased 72,000 bbl and Gulf Coast tumbled 129,000 bbl.
The report showed domestic ethanol production easing from a record high posted during the prior week, down last week by 52,000 barrels per day (bpd), or 5.2%, to 956,000 bpd while down 0.6% year-on-year.
Blender inputs, a gauge for ethanol demand, declined 9,000 bpd, or 1.0%, to 876,000 bpd while up 20,000 bpd, or 2.3%, versus a year earlier.
EIA reported implied demand for gasoline rose 360,000 bpd during the week-ended Nov. 27 to 9.281 million bpd, 1.5% lower than the same week a year ago.
George Orwel can be reached at george.orwel@dtn.com
(BM/AG)
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