OAKHURST, N.J. (DTN) -- Domestic inventory of ethanol held to the upside for a second week through Jan. 7, rising amid continued decline in demand while output remained above 1 million barrels per day (bpd) for a 14th consecutive week, the latest data from the Energy Information Administration show.
U.S. ethanol plant production dropped 42,000 bpd to 1.006 million bpd in the week reviewed and averaged 1.041 million bpd over the most recent four weeks.
Net refiner, blender ethanol inputs slid 27,000 bpd or 3.5% through Jan. 7 to 755,000 bpd, the lowest level since the week-ended Feb. 19, 2021, when the blend rate was 724,000 bpd yet 0.9% above the comparable year-ago blend rate. Data show the East Coast PADD 1 blending rate tumbled 6.3% while Midwest PADD 2 refiners and blenders reported a drop of 2.4% and Gulf Coast PADD 3 registered at 2.2% week-on-week decrease.
On the supply side, stocks in PADD 2 increased 1.9% during the week profiled to 9.9 million bbl, the highest level on record, while PADD 3 inventory edged higher to 3.848 million bbl.
PADD 1 ethanol inventories rebounded from the prior-week drop, jumping over 12% to a 15-week high 6.4 million barrels (bbl) in the week ended Jan. 7, and PADD 5 stocks added 140,000 bbl to 2.357 million bbl.
Total domestic ethanol supply rose 1.552 million bbl in the week profiled to 22.911 million bbl, the highest level since the week ended Feb. 12, 2021.
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