Another down week for ethanol production in the U.S. as the U.S. Energy Information Administration reports production was down 14,000 barrels a day from the previous week.
The production ending May 13 averaged 948,000 barrels a day or 39.82 million gallons. The four-week average for ethanol production stood at 940,000 barrels a day which translates into an annualized rate of 14.41 billion gallons.
Sticks are at 21.1 million barrels which is a 0.7% decrease from the previous week and tied with the January 1, 2016 week for the lowest total of the year.
The EIA indicated that gasoline demand for the week averaged 409.7 million gallons or 9.755 million barrels a day while the refiner/blender input of ethanol averaged 918,000 barrels a day. That means the daily ethanol production was 9.72 % of the daily gasoline demand.
