US ethanol production averaged 1.072 million b/d in the week ended June 21, a 9,000 b/d decrease compared with the previous week, Energy Information Administration data showed Wednesday.
Production was up flat year on year. Production was within market expectations.
Total stocks fell for the fifth straight week, shedding 46,000 barrels, or 0.21%, week on week to 21.567 million barrels, with only two of the five defined regions showing draws. Inventories were 107,000 barrels lower year on year. The decline in stocks was within market expectations.
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Midwest inventories showed the largest decline, drawing down by 144,000 barrels, or 1.86%, lower week on week to 7.597 million, the lowest inventory level for that region since the week of November 16. The Midwest is host to the largest number of ethanol plants in the US. The only other draw came in the Rocky Mountain Region, which saw an 8,000-barrel draw to 382,000 barrels
West Coast stocks rose by 63,000 barrels to 2.631 million, the largest build on the week.
Stocks in the Gulf Coast region showed rose 17,000 barrels to 3.813 million barrels. The Gulf Coast is the most common origin for ethanol exports from the US. East Coast inventories added 26,000 barrels, or 0.37%, week on week to 7.144 million barrels.
The four-week rolling average of the refiner and blender net ethanol input was 1,000 b/d lower at 944,000 b/d, while the weekly average rose 9,000 b/d to 951,000 b/d.
The four-week rolling average of gasoline demand, represented by product supplied, rose by 18,000 b/d to 9.678 million b/d, while the weekly average fell by 462,000 b/d to 9.466 million b/d.
The four-week rolling average of the ethanol blending rate, calculated by dividing the refiner and blender ethanol input by gasoline demand, fell 0.01 percentage points to 9.75% from 9.76%.
