US Ethanol Inventory Drops
EIA: Ethanol Output Below 1M Bpd for First Time Since October
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories posted their first draw in six weeks, with Midwest PADD 2 supplies moving off a record high as production dropped more than 4% through the week ended Feb. 4, the latest Energy Information Administration data show.
EIA data show U.S. ethanol production fell below the 1 million barrel-per-day (bpd) mark for the first time since the week ended Oct. 1, 2021, sinking 47,000 bpd to 994,000 bpd. Output for the week under review was 6.1% more than the same time in 2021.
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PADD 2 output slid 42,000 bpd last week to 939,000 bpd while 5% above the corresponding week a year ago.
Net refiner, blender ethanol inputs held at 819,000 bpd through Feb. 4, 4.3% higher than the same time in 2021.
At the East Coast PADD 1, the blending rate dropped 1.7% while PADD 2 refiners and blenders reported no change, and the Gulf Coast PADD 3 registered a 0.7% dip.
EIA data show PADD 1 ethanol stocks declined 146,000 barrels (bbl) to 7.357 million bbl while PADD 2 supply was drawn down for the first time in seven weeks, falling 378,000 bbl to 10.129 million bbl.
PADD 3 ethanol stocks declined after two weekly gains, down 278,000 bbl to 4.068 million bbl as of Feb. 4, and PADD 5 inventory retreated after four weekly builds, down 228,000 bbl to 2.845 million bbl.
The agency reports overall domestic ethanol supply dropped 1.055 million bbl to 24.799 million bbl last week.
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