Data from the Energy Information Administration, analyzed by the Renewable Fuels Association for the week ending on January 23, showed that ethanol production dropped 0.4 percent to 1.1 million barrels a day. That’s equivalent to 46.8 million gallons a day. Still, output was 9.8 percent higher than the same week last year and 10.2 percent above the three-year average for the week. The four-week average ethanol production rate dropped 0.1 percent to 1.13 million barrels a day. Ethanol stocks shrank 1.3 percent to 25.4 million barrels. Stocks were 1.3 percent less than the same week last year but 2.4 percent above the three-year average. The volume of gasoline supplied to the U.S. market, a measure of implied demand, rebounded 11.8 percent to 8.76 million barrels a day in advance of the winter storm. Demand was 5.5 percent more than a year ago, and 5.3 percent above the three-year average.
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