OAKHURST, N.J. (DTN) -- Energy Information Administration data for the week-ended June 2 shows a drawdown in domestic fuel ethanol inventories while plant production and implied demand also dropped.
The EIA's Weekly Petroleum Status Report for the week profiled shows fuel ethanol stockpiles dropped by roughly 800,000 barrels (bbl), or 3.5%, to 22.0 million bbl, yet stocks were nearly 9% higher than the same week in 2016.
Domestic plant production fell 21,000 barrels per day (bpd), or 2.1%, to 999,000 bpd last week, while 7,000 bpd lower than a year ago. For the four weeks ended last week, ethanol production averaged 1.014 million bpd, 49,000 bpd higher than the same four-week period in 2016.
Net refiner and blender inputs, a gauge for ethanol demand, dropped 41,000 bpd, or 4.3%, to 909,000 bpd during the week-ended June 2, yet were 5,000 bpd higher than a year ago. For the four-week period ended June 2, blending demand averaged 939,000 bpd, up 24,000 bpd from the corresponding four-week period in 2016.
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