EIA: Ethanol Stocks Build, Demand Falls
Net Inputs by Refiners, Blenders Fall for Third Consecutive Week
OAKHURST, N.J. (DTN) -- Ethanol supply in the United States increased for the first time in three weeks as net inputs by refiners and blenders fell for a third consecutive week, according to Energy Information Administration data released Thursday, Sept. 5. Meanwhile, plant production continued to seesaw, falling to a 21-week low.
Overall supply rose 819,000 barrels (bbl) in the week ended Aug. 30 to 23.801 million bbl, nearly 5% more than the same week in 2018.
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EIA data shows ethanol stocks dropped 157,000 bbl in the PADD 2 Midwest producer region to 7.597 million bbl, 1.3% below the same week last year.
Ethanol inventory increased in the destination markets, with PADD 1 East Coast supply up for the first time in three weeks, rising 346,000 bbl in the week ended Aug. 30 to 7.307 million bbl, a 5.2% year-over-year supply deficit. PADD 3 Gulf Coast inventory rose 421,000 bbl last week to 5.692 million bbl, 46.2% higher than last year, while PADD 5 West Coast stockpiles added 186,000 bbl to 2.812 million bbl, about 7% lower than a year ago.
Agency data showed output at U.S. production plants dropped 25,000 barrels per day (bpd), or 2.4%, in the week ended Aug. 30 to 1.013 million bpd, the lowest level since the week-ended April 5 at 1.002 million bpd. Data show plant output down 74,000 bpd, or 6.8%, against year ago. During the four weeks ended Aug. 30, U.S. plant production averaged 1.030 million bpd compared to a 1.076 million bpd production rate during the comparable period a year ago.
Net ethanol inputs by refiners and blenders fell for a third week, down 3,000 bpd to 952,000 bpd, 1% more than the same week in 2018. During the four weeks ended Aug. 30, the ethanol blend rate averaged 959,000 bpd which compares with the year ago pace of 946,000 bpd.
(AG)
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