EIA maintains 2023, 2024 ethanol production forecasts
August 10, 2023
BY Erin Voegele
The U.S. Energy Information Administration maintained its forecasts for 2023 and 2024 fuel ethanol production in its latest Short-Term Energy Outlook, released Aug. 8. The forecast for 2023 ethanol blending was also maintained, but the 2024 blending forecast was revised down.
The EIA currently predicts U.S. fuel ethanol production will average 1 million barrels per day this year and 1.01 million barrels per day next year. Both forecasts were maintained from the July STEO. Fuel ethanol production averaged 1 million barrels per day last year.
On a quarterly basis, the EIA expects fuel ethanol production to average 1.01 million barrels per day during the third quarter of this year, falling to 990,000 barrels per day in the fourth quarter. Moving into 2024, fuel ethanol production is expected to average 1 million barrels per day during the first quarter, 1.01 million barrels per day during the second quarter, 1.02 million barrels per day during the third quarter, and 1.01 million barrels per day during the fourth quarter.
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Fuel ethanol blending is currently expected to average 930,000 barrels per day in both 2023 and 2024. In its July STEO, the EIA predicted fuel ethanol blending would average 930,000 barrels per day this year but increase to 940,000 barrels per day next year. Fuel ethanol blending averaged 910,000 barrels per day last year.
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