EIA: Ethanol Stocks Higher
Output, Blending Demand Also Up
NEW YORK (DTN) -- The Energy Information Administration released a mixed weekly report Wednesday morning, showing total ethanol inventory, plant production, and blending demand all increased during the week ended Sept. 29.
The EIA's Weekly Petroleum Status Report showed fuel ethanol stocks surged by 800,000 bbl or 3.9% to a 21.5 million bbl six-week high, with a year-over-year surplus at 1.3 million bbl or 6.4%.
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Most of the stock build occurred in the PADD 1 East Coast, where ethanol supply increased by 900,000 bbl or 13.6% to 7.5 million bbl last week, a two-month high. A 300,000 bbl stock increase in PADD 2 Midwest offset a 300,000 bbl stock decline in PADD 3 Gulf Coast.
Domestic plant production rose by 14,000 bpd or 1.4% to 1.010 million bpd during the week reviewed, while up 30,000 bpd or 3.1% year-over-year. For the four weeks ended last week, ethanol production averaged 1.021 million bpd, up 33,000 bpd or 3.3%.
Net refiner and blender inputs, a gauge for ethanol demand, increased 13,000 bpd or 1.4% to a 930,000 bpd five-week high while up 11,000 bpd or 1.2% year-over-year. For the four-week period ended Sept. 29, blending demand averaged 912,000 bpd, down 5,000 bpd or 0.5%.
(CZ)