EIA reduces 2022, 2023 ethanol production forecasts

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The U.S. Energy Information Administration slightly reduced its forecasts for 2022 and 2023 ethanol production in its latest Short-Term Energy Outlook, released March 8. The EIA currently predicts fuel ethanol production will average 1.01 million barrels per day this year and 1 million barrels per day next year. In its February STEO, the agency predicted ethanol production would average 1.03 million barrels per day in 2022 and 1.02 million barrels per day in 2023. The EIA maintained its forecast that ethanol blending will average 920,000 barrels per day this year. The agency in February predicted 2023 blending would average 930,000 barrels per day.

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