Ethanol Production Rebounds Sharply Amid Strong Demand
U.S. ethanol production rebounded sharply last week, according to data analyzed by the Renewable Fuels Association.
The association found that for the week ending July 17, ethanol production climbed 5.2 percent to 1.09 million barrels per day, up 1.5 percent from the same week a year ago.
Ethanol stocks also edged 0.4 percent higher to 24.5 million barrels, while gasoline demand strengthened 1.2 percent from the previous week.
However, gasoline demand remained slightly below year-ago levels.
The biggest gain came in exports, which jumped 95 percent from the previous week to 158,000 barrels per day.
This increase in production and export numbers reflects continued strong demand for U.S. ethanol both at home and abroad, providing additional support for the nation’s corn growers and biofuels industry.