EIA: Ethanol Demand Up 4th Straight Week to near 9mos High
5/25 10:34 AM
EIA: Ethanol Demand Up 4th Straight Week to near 9mos High OAKHURST, N.J. (DTN) --- Energy Information Administration data released this morning show slightly lower domestic ethanol inventory in the week ended May 20 amid progressively higher demand, which climbed to a near nine-month high. Blending activity nationally increased a fourth consecutive week, up 4,000 bpd or 0.4% to 915,000 bpd in the week profiled, the highest blend rate since the last week of August 2021. Refiner and blender inputs, a gauge of demand, last week were 1% above the comparable week in 2021. Data show refiner and blender net inputs rose 1,000 bpd along the East Coast PADD 1 to 329,000 bpd while up 3,000 bpd in the Midwest PADD 2 to 250,000 bpd while the Gulf Coast PADD 3 rose 2,000 bpd to 155,000 bpd and the West Coast eased 1,000 bpd to 150,000 bpd. EIA reported production at U.S. ethanol plants jumped 33,000 bpd or 3.3% to 1.024 million bpd through May 20, an eight-week high, and 1.3% above the same week in 2021. Plant output averaged 991,000 bpd during the four weeks ended May 20, 3,000 bpd lower than during the comparable four weeks a year ago. Domestic ethanol inventory decreased 79,000 bbl last week to 23.712 million bbl, 24.7% higher than the same week in 2021. East Coast ethanol inventory rose for the first time in five weeks, up 121,000 bbl to 7.527 million bbl and Midwest stocks fell a sixth week, down 379,000 bpd to 9.284 million bbl, the lowest level since last week of December 2021. Ethanol inventory at the Gulf Coast increased a fourth week, rising 111,000 bbl to an eight-week high 4.245 million bbl and supply at the West Coast PADD 5 supply increased a fourth week, up 73,000 bbl to 2.3 million bbl, a six-week high. (c) Copyright 2022 DTN, LLC. All rights reserved.
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