According to EIA data analyzed by the Renewable Fuels Association for the week ending February 5, ethanol production ticked 0.1% higher, or 1,000 barrels per day (b/d), to 937,000 b/d—equivalent to 39.35 million gallons daily. Production remained 9.3% below the same week last year. The four-week average ethanol production rate was unchanged at 938,000 b/d, equivalent to an annualized rate of 14.38 billion gallons (bg).
Ethanol stocks declined 2.1% to 23.8 million barrels, which was 2.3% below a year-ago. Inventories drew down across all regions except the Midwest (PADD 2) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 1.1% to 7.86 million b/d (120.45 bg annualized). Gasoline demand was 9.9% less than a year ago.
Refiner/blender net inputs of ethanol rose 0.9% to 785,000 b/d, equivalent to 12.03 bg annualized. This was 10.1% below the year-earlier level as a result of the continuing effects of the COVID-19 pandemic.