June 15, 2018
By Erin Voegele
The U.S. Energy Information Administration has released the June edition of its Short-Term Energy Outlook, maintaining its May prediction that ethanol production will average 1.04 million barrels per day in 2018 and 2019, up from an average of 1.03 million barrels per day in 2017.
On a quarterly basis, the EIA predicts U.S. ethanol production will average 1.04 million barrels per day during the second quarter of this year, falling to 1.03 million barrels per day during the third and fourth quarters. In 2019, the EIA currently predicts ethanol production will be maintained at 1.03 million barrels per day during the first quarter, before increasing to 1.04 million barrels per day in the second and third quarters, and increasing again to 1.05 million barrels per day during the final quarter of the year.
Ethanol consumption is expected to reach 950,000 barrels per day this year, up from 940,000 barrels per day in 2017. Next year, ethanol consumption is expected to increase, reaching an average of 960,000 barrels per day.
The EIA’s most recent weekly ethanol production data shows production averaged 1.053 million barrels per day the week ending June 8, up from 1.041 million barrels per day the previous week.
The EIA’s most recent monthly data shows the U.S. imported 141,000 barrels of ethanol in March. Ethanol exports reached 5.122 million barrels in March, with Brazil, Canada and China listed as the top three destinations.
Read the original article: EIA Maintains It's 2018, 2019 Ethanol Production Forecasts