Ethanol production dropped to the lowest level in almost three months and inventories declined in the seven days that ended on Jan. 24, according to data from the Energy Information Administration. Output declined to an average of 1.015 million barrels a day, the agency said. That’s down from 1.099 million the previous week and the lowest level since the week that ended on Sept. 27, EIA said. Midwest production plunged to an average of 964,000 barrels a day, down from 1.042 million the week prior. That’s also the lowest since late September. Gulf Coast output dropped to 19,000 barrels a day, on average, from 24,000 barrels a week earlier, the agency said. That was the entirety of the losses as the remaining three regions' production was unchanged. East Coast and Rocky Mountain output were both steady at 11,000 barrels per day, and West Coast production was unchanged at 10,000 barrels a day for the fifth straight week, the government said.
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