NEW YORK (DTN) -- The Energy Information Administration released data Wednesday, Feb. 10, showing an increase for domestic ethanol production while total inventories jumped to a record high and implied demand increased as well.
The data showed total inventories increased 600,000 barrels (bbl), or 2.7%, to 23.0 million bbl during the week-ended Feb. 5, raising the year-over-year surplus to 1.8 million bbl, or 8.6%.
Stock increases were seen across the nation's key regions except in the Rocky Mountain region where they were unchanged and for PADD 5 West Coast where inventories fell 200,000 bbl to 2.7 million bbl.
Plant production ramped higher after falling three weeks straight, up 10,000 barrels per day (bpd) to 969,000 bpd last week, while up 0.7% year over year.
Blender inputs, a proxy for ethanol demand, rose 43,000 bbl, or 5.3%, to 858,000 bpd for the week, while up 3.9% year over year.
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