EIA reduces 2022, 2023 ethanol production forecasts

By Erin Voegele | March 08, 2022

The U.S. Energy Information Administration slightly reduced its forecasts for 2022 and 2023 ethanol production in its latest Short-Term Energy Outlook, released March 8. The outlook for 2022 fuel ethanol blending was unchanged.

The EIA currently predicts fuel ethanol production will average 1.01 million barrels per day this year and 1 million barrels per day next year. In its February STEO, the agency predicted ethanol production would average 1.03 million barrels per day in 2022 and 1.02 million barrels per day in 2023. Ethanol production averaged 980,000 barrels per day in 2021.

The EIA maintained its forecast that ethanol blending will average 920,000 barrels per day this year. The EIA now predicts that level of blending will be maintained into 2023. The agency in February predicted 2023 blending would average 930,000 barrels per day. Ethanol blending was at 910,000 barrels per day last year.