Ethanol Production Rises Slightly

The Energy Information Administration says ethanol output rose slightly week-to-week while stockpiles declined. Production of the biofuel increased to an average of 1.059 million barrels a day during the week ending on December 24. That’s up from an average of 1.051 million barrels a day during the previous week. In the Midwest, which is by far the biggest-producing region, output increased to an average of 1.001 million barrels per day, up from 991 million barrels a week earlier. That was where all the gains took place as East Coast and West Coast production remained at 12,000 barrels a day and 10,000 barrels, respectively. Production in the Rocky Mountain and Gulf Coast regions dropped to 23,000 barrels a day and 13,000 barrels, respectively. Ethanol inventories during the week ending on December 24 fell to 20.76 million barrels, down from 20.705 million the week before. That’s the lowest level since the week ending on December 3.