EIA maintains 2018, 2019 ethanol production forecasts

By Erin Voegele | August 07, 2018

The U.S. Energy Information Administration has released the August edition of its Short-Term Energy Outlook, maintaining its July prediction that ethanol production will average 1.04 billion barrels per day in both 2018 and 2019, up from an average of 1.03 million barrels per day last year.

On a quarterly basis, the EIA forecasts that ethanol production will average 1.05 million barrels per day during the third quarter of this year, falling to 1.04 million barrels per day during the fourth quarter of this year. In 2019, the EIA currently predicts ethanol production will average 1.03 million barrels per day during the first three months of the year, increasing to 1.04 million barrels per day during the second, third and fourth quarters.

Consumption of fuel ethanol is expected to average 950,000 barrels per day in 2018 and 2019, up from 940,000 barrels per day in 2017.

The EIA’s most recent weekly data shows ethanol production reached 1.064 million barrels per day the week ending July 27, down from 1.074 million barrels per day the previous week. The EIA’s most recently monthly data shows the U.S. exported 2.28 million barrels of ethanol in May, primarily to Canada, Peru, and the Philippines.