EIA revises 2023, 2024 fuel ethanol production forecasts

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The U.S. Energy Information Administration reduced its forecasts for 2023 and 2024 fuel ethanol production in its latest Short-Term Energy Outlook, released June 5. The agency also reduced its forecast for 2024 fuel ethanol production to 1 million barrels per day, down from a forecast of 1.01 million barrels per day made last month. Fuel ethanol production averaged 1 million barrels per day in 2022. Moving into 2024, fuel ethanol production is expected to average 1 million barrels per day in the first and second quarters, falling to 990,000 barrels per day in the third quarter and increasing to 1.02 million barrels per day in the fourth quarter. Fuel ethanol blending averaged 910,000 barrels per day last year.

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