Production figures for the week ended October 30 marked a 25,000-barrel-per-day increase from the previous week. This performance outpaced the 1.112 million barrels per day average anticipated by analysts surveyed by Dow Jones, though it remains below the all-time peak of 1.196 million barrels per day reached in January.
In section Market Quotes
U.S. Ethanol Output Hits Near-Record High as Inventories Tighten
U.S. ethanol production climbed to its second-highest level on record last week, reaching 1.143 million barrels per day. The Energy Information Administration reported Wednesday that this surge in output, which surpassed analyst expectations, occurred alongside a slight draw in national biofuel inventories as demand remains robust.
Despite the jump in refining activity, total ethanol stocks tightened, falling by 89,000 barrels to 24.4 million barrels. This inventory level landed slightly above the 24.2 million barrels predicted by market observers, confirming a steady consumption pace despite the aggressive manufacturing ramp-up.
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