EIA increases 2023, 2024 ethanol production forecasts

July 12, 2023

BY Erin Voegele

The U.S. Energy Information Administration boosted its forecasts for 2023 and 2024 fuel ethanol production in its latest Short-Term Energy Outlook, released July 11. The forecasts for ethanol blending were maintained.

The EIA currently predicts U.S. fuel ethanol production will average 1 million barrels per day in 2023 and 1.01 million barrels per day in 2024, up from the respective forecasts of 990,000 barrels per day and 1 million barrels per day made in the June STEO. Fuel ethanol production averaged 1 million barrels per day last year.

On a quarterly basis, the EIA expects fuel ethanol productiona to average 1.01 million barrels per day during the third quarter of this year, falling to 980,000 barrels per day in the fourth quarter. Moving into 2024, the agency expects fuel ethanol production to average 1.01 million barrels per day in the first, second and third quarters, increasing to 1.02 million barrels per day in the final quarter of the year.

Fuel ethanol blending is expected to average 930,000 barrels per day in 2023 and 940,000 barrels per day in 2024. Both forecasts were maintained from the June STEO. Ethanol blending averaged 910,000 barrels per day in 2022.

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