According to EIA data analyzed by the Renewable Fuels Association for the week ending February 3, ethanol production contracted by 2.7 percent to 1.000 million b/d, equivalent to 42.00 million gallons daily. Production was 0.6 percent above the same week last year but 0.2 percent below the five-year average for the week. The four-week average ethanol production rate increased 1.4 percent to 1.012 million b/d, equivalent to an annualized rate of 15.51 billion gallons (bg).

Ethanol stocks moved fractionally lower to 24.4 million barrels. Stocks were 1.5 percent less than a year ago yet 2.3 percent above the five-year average. Inventories thinned across all regions except the East Coast (PADD 1) and Midwest (PADD 2).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, pared back 0.7 percent to 8.43 million b/d (129.20 bg annualized). Demand was 7.6 percent less than a year ago and 2.9 percent below the five-year average.

Refiner/blender net inputs of ethanol declined 2.3 percent to a 5-week low of 819,000 b/d, equivalent to 12.56 bg annualized. Net inputs were even with year ago levels but 3.2 percent below the five-year average.

There were zero imports of ethanol recorded for the ninth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of December 2022.)

View historical U.S. weekly ethanol supply and demand data at https://ethanolrfa.org/markets-and-statistics/weekly-and-monthly-ethanol-supply-and-demand.

RFA is the leading trade association for America's ethanol industry, working to drive expanded demand for American-made renewable fuels and bio-products worldwide. Visit our website at https://ethanolrfa.org.