NEW YORK (DTN) -- Ethanol supply in the United States tumbled 800,000 barrels (bbl), or 3.4%, from a record high to 23.0 million bbl during the week-ended Jan. 26, with plant production also down substantially, the Energy Information Administration said on Wednesday, Jan. 31.
The draw comes after four straight weekly stock builds. Compared with the corresponding week in 2017, total ethanol supply is up 1.1 million bbl, or 5.0%.
Regionally, most of the draw occurred in PADD 3 Gulf Coast, with supply dropping 600,000 bbl, or 12.5%, from a record high to 4.2 million bbl. In PADD 2 Midwest, inventory was drawn down by 200,000 bbl, or 2.4%, from a 10-month high to 8.2 million bbl.
Domestic plant production declined 22,000 barrels per day (bpd), or 2.1%, to 1.04 million bpd last week, while down 21,000 bpd, or 2.0%, year over year. For the four weeks ended Jan. 26, production averaged 1.04 million bpd, down 14,000 bpd, or 1.4%, versus a year ago.
Net refiner and blender inputs, a measure for ethanol demand, climbed 32,000 bpd, or 3.9%, last week to 858,000 bpd. Compared to a year ago, blending demand was up 21,000 bpd or 2.5%. For the four-week period ended Jan. 26, blending demand averaged 834,000 bpd, up 5,000 bpd, or 0.6%, versus a year ago.
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