The Energy Information Administration says ethanol production hit its highest level in four months while inventories declined during the week ending on November 4.
The weekly output rose to an average of 1.051 million barrels per day. That’s up from 1.04 million barrels during the previous week and the highest level since June 24. The Midwest, which produces the most ethanol of any region in the country saw production rise to 992,000 barrels per day on average. That’s up from 981,000 the prior week and the highest production level since June 17.
The Midwest gains were the entirety of the additions as production in most regions stayed the same from the previous week. East Coast production remained at 12,000 barrels a day for the third-straight week, and Rocky Mountain production was steady at 15,000 barrels a day for the fourth-straight week. Ethanol inventories that week dropped to 22.192 million barrels.