OAKHURST, N.J. (DTN) -- Ethanol inventory in the United States dropped 4% in the week ended July 17 to a better than 3 1/2-years low as demand for the fuel rose 2.4% and production slid from a 16-week high, according to the Energy Information Administration data released midmorning.
At 19.801 million bbl, domestic ethanol stocks fell 0.8 million bbl to mark the lowest level since the week ended Dec. 30, 2016 at 18.678 million bbl. Supply is at a 16.5% year-over-year supply deficit.
During the period profiled blending activity rose, with EIA reporting a 20,000 bpd drop in net refiner and blender ethanol inputs to 839,000 bpd. Blending activity during the four weeks ended July 17 averaged 834,000 bpd, 102,000 bpd below the comparable year-ago period.
Ethanol plant production slid 23,000 bpd in the week profiled to 908,000 bpd, down 131,000 bpd or 12.6% against year ago. Four-week average output is down 145,000 bpd against year ago at 913,000 bpd.
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