Solid Q4 Lifts Oregon CFP Credit Bank

Following a poor 2020 Q3 reporting that had deficit production outpacing credits by 37,055, the Oregon credit bank returned to solid footing in Q4.  Credit production exceeded deficit production during the fourth quarter by 23,726.  

Demand for gasoline and diesel declined in the fourth quarter relative to the third quarter.  This is similar to what was seen in California but with a much steeper decline in gasoline demand in Oregon compared to California.  Fourth quarter gasoline demand was 20 percent below third quarter and generated 46,136 fewer deficits.  Ethanol demand only fell 12 percent and generated 12 percent few credits. 

Fourth quarter diesel demand was ½ of a percent below third quarter demand but deficit generation was 1.2 percent…