Ethanol production hits two-year high
The Energy Information Administration says ethanol output surged to a two-year high, and inventories hit their highest points since April during the week ending on December 22. Ethanol production rose to an average of 1.107 million barrels per day, up from 1.071 during the prior week and the highest level since October 2021. The Midwest, which produces the most U.S. ethanol, increased its output to an average of 1.047 million barrels a day, up from 1.009 million a week earlier. That was all the gains during the week as East Coast production was unchanged at 12,000 barrels a day, and Rocky Mountain output held steady at 14,000 barrels. West Coast production remained at 10,000 barrels per day for the second straight week. Gulf Coast output dipped to 24,000 barrels from 26,000 the prior week. Ethanol inventories jumped to 23.517 million barrels during the week, the highest level since April 21.
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