Ethanol production falls as industry awaits relief
U.S. ethanol production dropped last week as the industry continues to wait for the White House’s biofuels reform package.
The U.S. Energy Information Administration says production averaged 943,000 barrels a day, a decline of 60,000 on the week, and the lowest weekly average since April 2016. The Renewable Fuels Association says that is the second biggest week to week loss in production on record and the four-week production average is now below a million barrels a day, a near six month low.
Stocks fell 738,000 barrels to 22.5 million.
No timeline has been announced for the release of the biofuels reform package.