US ethanol production forecast at 970,000 b/d in both 2016, 2017
US ethanol production is expected to average about 970,000 barrels per day in both 2016 and 2017, according to the January short-term energy outlook report by the US Energy Information Administration (EIA).
This would represent a slight increase from an estimated 964,000 barrels per day produced in 2015. The new report gives the first forecast for 2017.
In EIA’s previous report, released in December, the forecast for 2016 was for 960,000 barrels per day but it has now been increased. EIA said that in making its projections it had used the final volumes for 2014, 2015 and 2016 under the Renewable Fuel Standard programme that were set in November.
On the demand side, ethanol consumption is forecast to average 930,000 barrels per day in both 2016 and 2017. Last year, it averaged 910,000 barrels per day. The expected consumption level means that the share of ethanol will average 10% of the total gasoline pool in 2016 and 2017. EIA does not see significant increases in the use of E15 or E85 in the two years.
Provided by SeeNews exclusively for Essentica.