Ethanol output hits 5-month low
U.S. weekly ethanol production falls to a five-month low, but stockpiles remain large. US EIA reports output of 892,000 barrels/day in week ended March 9, down from 906,000 the prior week.
Weekly production down 7.3% from start of the year, and hasn't been this low since the first week of October, as producers respond to poor margins and a supply glut.
So far, the cuts have done little to fix the glut, as EIA reports stockpiles of 22.0M barrels, down slightly from 22.1M the prior week, but up 23% since start of the year.
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(END) Dow Jones Newswires
March 14, 2012 11:08 ET (15:08 GMT)
DJ MARKET TALK: US Ethanol Output At 5-Month Low, Yet Glut Persists->copyright