According to the Energy Information Administration, for the week ending June 19th, ethanol production rose to 893,000 barrels per day approximately 85 percent of the pre-COVID-19 output. Since the demand for ethanol is closely linked to gasoline, ethanol refiners benefited by the 10 percent increase in use of E-10 to 8.6 million barrels per day. Accordingly, both ethanol and gasoline inventory fell with ethanol stock now at 21 million barrels.
