The U.S. Energy Information Administration has released the February edition of its Short-Term Energy Outlook, maintaining its previous forecast for 2019 ethanol production, but slightly increasing the production forecast for 2020.
The EIA currently predicts ethanol production will average 1.04 million barrels per day this year, increasing to 1.05 million barrels per day next year. In January, the agency predicted ethanol production would average approximately 1.04 million barrels per day in both 2019 and 2020. Production averaged approximately 1.05 million barrels per day last year.
On a quarterly basis, the EIA currently predicts ethanol production will average 1.03 million barrels per day during the first quarter of this year, increasing to 1.05 million barrels per day in the second quarter, and then falling to 1.04 million barrels per day during the third and fourth quarters. In 2020, the agency predicts ethanol will average 1.04 million barrels per day during the first quarter, increase to 1.06 million barrels per day during the second quarter, fall to 1.05 million barrels per day during the third quarter and return to 1.04 million barrels per day during the fourth quarter.
