EIA increases 2024, 2025 fuel ethanol forecasts: USA
The U.S. Energy Information Administration (EIA) raised its fuel ethanol production forecasts for 2024 and 2025 in its latest Short-Term Energy Outlook. Production for 2024 is expected to average 1.04 million barrels per day, up from 1.03 million, with 2025 projected at 1.03 million barrels. However, the EIA revised its 2024 fuel ethanol blending outlook down to 920,000 barrels per day.
The U.S. Energy Information Administration increased its forecasts for both 2024 and 2025 fuel ethanol production in its latest Short-Term Energy Outlook, released on Sept. 10. The outlook for 2024 fuel ethanol blending was revised down.
The EIA currently predicts fuel ethanol production will average 1.04 million barrels per day this year, up from last month’s forecast of 1.03 million barrels per day. The agency also increased its outlook for 2025 fuel ethanol production to 1.03 million barrels per day, up from the August forecast of 1.02 million barrels per day. Fuel ethanol production averaged 1.02 million barrels per day in 2023.
On a quarterly basis, the EIA currently expects fuel ethanol production to average 1.06 million barrels per day during the third quarter of this year, falling to 1.04 million barrels per day in the fourth quarter. Moving into 2025, fuel ethanol production is expected to average 1.04 million barrels per day in the first quarter, 1.03 million barrels per day in the second quarter, 1.02 million barrels per day in the third quarter and 1.04 million barrels per day in the fourth quarter.
The EIA currently predicts fuel ethanol blending will average 920,000 barrels per day in 2024, down from last month’s forecast of 930,000 barrels per day. The agency maintained its forecast that fuel ethanol blending will average 930,000 barrels per day next year. Fuel ethanol blending averaged 930,000 barrels per day in 2023.
The STEO also includes data on expected net imports for fuel ethanol. The EIA currently predicts net fuel ethanol imports will average -110,000 barrels per day in 2024 and -100,000 barrels per day in 2025. Net fuel ethanol imports were at -90,000 barrels per day in 2023.
Source Link: https://ethanolproducer.com/articles/eia-increases-2024-2025-fuel-ethanol-forecasts
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