According to EIA data analyzed by the Renewable Fuels Association for the week ending July 15, ethanol production stepped up by 2.9% to 1.034 million b/d, equivalent to 43.43 million gallons daily. Production was 0.6% more than the same week last year and 2.2% above the five-year average for the week. The four-week average ethanol production volume decreased 0.6% to 1.033 million b/d, equivalent to an annualized rate of 15.84 billion gallons (bg).
Ethanol stocks ticked down 0.2% to 23.6 million barrels. Stocks were 4.6% higher than a year ago and 7.9% above the five-year average. Inventories thinned across all regions except the East Coast (PADD 1) and West Coast (PADD 5).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, rebounded by 5.7% to 8.52 million b/d (130.63 bg annualized). However, demand was 8.3% less than a year ago and 9.7% below the five-year average.
Refiner/blender net inputs of ethanol remained level with the prior week at 887,000 b/d, equivalent to 13.60 bg annualized. Net inputs were 2.2% less than a year ago and 3.1% below the five-year average.
There were no imports of ethanol for the ninth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2022.)