OAKHURST, N.J. (DTN) -- Domestic ethanol inventories dropped 6.2% in the week ended Feb. 19 as a better-than-25% slide in production due to weather-related issues more than offset weaker demand for the fuel, according to the latest data from the Energy Information Administration.
Overall, ethanol plant production plummeted 253,000 barrels per day (bpd) in the week profiled to 658,000 bpd, the lowest level since May 8, 2020, while 37.6% lower than the corresponding week in 2020. Four-week average output dropped 192,000 bpd against a year ago to 860,000 bpd.
Midwest PADD 2 production slid 27.3% to 631,000 bpd last week from 868,000 bpd the week prior, while Gulf Coast PADD 3 output was just 2,000 bpd versus 12,000 bpd a week earlier.
Blending activity, a measure of demand, slid 8.1%, or 64,000 bpd, to 725,000 bpd in the week profiled, 19.6% below the corresponding week in 2020, data show. Blending activity during the four weeks ended Feb. 19 averaged 769,000 bpd, 121,000 bpd, or 13.6%, below the comparable year-ago period.
Midwest PADD 2 blending demand fell 14,000 bpd on the week, while at the Gulf Coast, demand plunged 50,000 bpd or 37.6%. For the four weeks ended Feb. 19, EIA reports PADD 2 blending activity 24,000 bpd below the year prior while PADD 3 activity was down 26,000 bpd.
At a 12-week-low 22.785 million barrels (bbl), total domestic ethanol supply slid 1.512 million bbl, 7.7% below the same week a year ago.
EIA reported East Coast PADD 1 dropped 251,000 bbl to a seven-week low of 7.770 million bbl, 10.3% lower than supply on-hand this time last year, while Midwest PADD 2 supply tumbled 1.054 million bbl to a 12-week low 7.290 million bbl, 11% below this time in 2020.
At the Gulf Coast PADD 3, stocks eased 73,000 bbl to 4.916 million bbl, 6.5% higher than last year. Data show West Coast PADD 5 stocks continued lower, down 120,000 bbl to a 33-week-low 2.460 million bbl.
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