The Energy Information Administration says ethanol output dropped to its lowest level in more than a month, and inventories dropped during the week ending on November 11.
The newest EIA report says the production fell to an average of 1.011 million barrels a day. That’s down from 1.051 million barrels during the prior week and the lowest level since October. In the Midwest, the largest-producing region in the U.S., production dropped to 954,000 barrels a day from 992,000 barrels the week before. That’s also the lowest level for the Midwest in over a month.
Gulf Coast production declined to an average of 23,000 barrels a day, a 1,000-barrel-a-day drop from the prior week. Rocky Mountain output fell to 13,000 barrels a day, the lowest output since September 23. The East Coast saw the only production increase at 13,000 barrels a day. Inventories through November 11 fell to 21.298 million barrels.