According to data released by the Energy Information Administration, ethanol production reached an all-time high in June. At the same time the Renewable Fuels Association reports ethanol demand also set a new record for June.
EIA says ethanol production in June was just over 854,000 barrels per day. That is an increase of 8,000 barrels per day from May and it's more than 160,000 higher than June 2009. Based on the first six months of 2010, US ethanol production is running at 12.87 billion gallons on an annualized basis.
As calculated by the RFA, ethanol demand also reached an all-time high of 857,000 barrels per day, up from 721,000 figure set one year ago. RFA estimates there are 22 days of ethanol reserves in storage.
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