Jun 10, 2020
U.S. fuel ethanol production increased by more than 9 percent the week ending June 5, while weekly ending stocks of fuel ethanol fell by 3 percent, according to data released by the U.S. Energy Information Administration on June 10.
Ethanol production averaged 837,000 barrels per day the week ending June 5, up from an average of 765,000 barrels per day the previous week. The week ending June 5 marks the sixth consecutive week of growth following sharp declines that began in late March and continued through April due to market impacts caused by the COVID-19 pandemic. Production was down 259,000 barrels per day when compared to the same week of 2019 and down 242,000 barrels per day when compared to the final week of February, before U.S. fuel markets started to be impacted by COVID-19.
Weekly ending stocks fell to 21.802 million barrels the week ending June 5, down from 22.476 million barrels the previous week and the lowest level of weekly ethanol ending stocks reported since the final week of 2019. The week ending June 5 marks the seventh consecutive week of falling ethanol stocks following a record high of 27.689 million barrels set the week ending April 17. Weekly ending stocks for the week ending June 5 were flat when compared to same week of last year.
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