EIA Reduces Forecasts For 2024, 2025 Fuel Ethanol Production
The U.S. Energy Information Administration (EIA) reduced its 2024 and 2025 fuel ethanol production forecasts. The latest Short-Term Energy Outlook predicts 2024 production will average 1.03 million barrels per day, down from 1.04 million. The 2025 forecast was also reduced to 1.02 million barrels per day. Quarterly production is expected to average 1.03 million barrels per day in late 2024 and early 2025, dropping slightly mid-year. Ethanol blending forecasts remain at 930,000 barrels per day.
The U.S. Energy Information Administration reduced its forecasts for 2024 and 2025 fuel ethanol production in its latest Short-Term Energy Outlook, released July 9. The forecasts for ethanol blending were maintained.
The EIA currently predicts fuel ethanol production will average 1.03 million barrels per day this year, down from last month’s forecast for 1.04 million barrels per day. The agency also reduced its forecast for 2025 ethanol production to 1.02 million barrels per day, down from the June outlook of 1.03 million barrels per day. Fuel ethanol production averaged 1.02 million barrels per day last year.
On a quarterly basis, fuel ethanol production is expected to average 1.03 million barrels per day during both the third and fourth quarters of 2024. That level of production is expected to be maintained through the first quarter of 2025, falling to 1.02 million barrels per day in the second and third quarters and rebounding to 1.03 billion barrels per day in the fourth quarter.
The EIA maintained its forecasts that fuel ethanol blending will average 930,000 barrels per day in both 2024 and 2025. Fuel ethanol blending also averaged 930,000 barrels per day in 2023.
Source Link : https://ethanolproducer.com/articles/eia-reduces-forecasts-for-2024-2025-fuel-ethanol-production
