By OWEN FLETCHER
CHICAGO -- US ethanol production fell 5.1% to 784,000 bpd in
the week through Friday, the lowest level on record, data from
the US Energy Information Administration showed Wednesday.
The figure was the lowest since the EIA began releasing
weekly ethanol production data in mid-2010. It was slightly
below the previous low of 785,000 bpd in late September.
Also, US ethanol stocks last week rose 2.6% to 20.4 million
bbl, reversing a decline seen in the last few weeks. Ethanol
stocks in mid-December hit a six-month high of 20.8 million
US ethanol producers have struggled with weak margins since
early last year, pressured by a combination of slack gasoline
demand, high corn prices due to the US drought last year, and
high ethanol inventories.
Dow Jones Newswires