Jul 8, 2020
U.S. ethanol production was up nearly 2 percent the week ending July 3, while weekly ending stocks of fuel ethanol increased by more than 2 percent, according to data released by the U.S. Energy Information Administration on July 8.
U.S. ethanol production averaged 914,000 barrels per day the week ending July 3, up from an average of 900,000 barrels per day the previous week. The week ending July 3 marks the tenth 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 133,000 barrels per day when compared to the same week of 2019 and down 165,000 barrels per day when compared to the final week of February, before COVID-19 began to impact U.S. fuel markets.
Weekly ending stocks of fuel ethanol increased for the first time since mid-April, reaching 20.62 million barrels for the week ending July 3, up from 20.164 million barrels the previous week. The increase follows 10 consecutive weeks of falling U.S. weekly ending stocks of fuel ethanol following a record high of 27.689 million barrels that was set the week ending April 17. Weekly ending stocks, however, were down 2.389 million barrels when compared to the same week of last year.
Read the original story here.