News

U.S. ethanol production up, stocks down

U.S. ethanol stocks hit a more than one-month low last week as blending demand increases.

The U.S. Energy Information Administration says domestic supplies dropped 1.151 million barrels to 22.746 million, the third week in a row with a decline and the lowest weekly total since mid-to-late September.

Production was higher for the third week in a row, averaging 1.059 million barrels a day, up 35,000 on the week for the highest weekly average since late August.

The industry expects improved domestic demand if President Trump’s proposal for year-round E15 use is approved.

The proposal is not expected to be advanced until early 2019 and is facing resistance from petroleum interests.