Ethanol output hits two-month high
Ethanol production surged to its highest level in nearly two months, hitting an average of 1.068 million barrels per day, per the Energy Information Administration’s latest report. The Midwest led the charge with production reaching 1.007 million barrels daily. Gulf Coast output also saw a boost to 27,000 barrels a day, while West Coast and Rocky Mountain regions experienced modest increases. Meanwhile, ethanol inventories dropped to 23.207 million barrels, marking their lowest since December 15.
The Energy Information Administration says ethanol output reached its highest level in almost two months while inventories dropped during the seven days ending on May 24. Production rose to an average of 1.068 million barrels per day, up from 1.019 million a week earlier. The agency’s report says that’s the highest level since the week ending on March 29.
The Midwest, which produces more ethanol than any region in the country, saw its production rise to an average of 1.007 million barrels a day, up from 94,000 a week earlier. Gulf Coast output increased to 27,000 barrels a day from 23,000 a week earlier. West Coast production rose to 10,000 barrels from 9,000 the week earlier. East Coast and Rocky Mountain production was stable at 12,000 barrels and 11,000 barrels, respectively.
Ethanol stockpiles during the week ending on May 24 were reported at 23.207 million barrels, the lowest since December 15.
Source Link: https://kfgo.com/2024/06/03/ethanol-output-hits-two-month-high/
Recommended for you
