Ethanol Stocks Down to 1-Year Low
NEW YORK (DTN) -- Total U.S. ethanol stocks plunged last week to a near-one-year low while plant production rebounded higher from a four-month low and blending demand was little changed, the Energy Information Administration said Wednesday.
The EIA's Weekly Petroleum Status Report showed domestic fuel ethanol inventories were drawn down by 400,000 barresl (bbl), or 1.8%, to 19.0 million bbl during the week-ended Oct. 14, which reduced a year-over-year surplus to 200,000 bbl, or 0.9%.
Stock draws occurred along the PADD 3 Gulf Coast, where inventory declined 300,000 bbl to 3.5 million bbl. PADD 5 West Coast ethanol inventory fell 100,000 bbl to 2.7 million bbl.
Plant production climbed 37,000 barrels per day (bpd), or 3.8%, to 998,000 bpd last week, up 47,000 bpd, or 4.9%, versus a year earlier. For the four weeks ended Oct. 14, domestic ethanol production averaged 982,000 bpd, up 3.6%.
Net refiner and blender inputs of ethanol, a measure for demand, eased 1,000 bpd to 915,000 bpd during the week-ended Oct. 14. Year over year, refiner and blender inputs are still up 18,000 bpd, or 2.0%. The four-week average blender input rate through Oct. 14 is up 27,000 bpd, or 3.0%, year over year at 914,000 bpd.
George Orwel can be reached at george.orwel@dtn.com
(BM/AG)
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