July STEO Lowers Renewable Diesel Production/Consumption Outlook 2024
The U.S. Energy Information Administration (EIA) delivered their June Short Term Energy Outlook (STEO) yesterday. It showed mostly downward adjustments in fuel consumption for both gasoline and diesel in 2024, along with renewable diesel production and consumption continuing to trend higher in 2023 and 2024.
The 2023 forecast for gasoline consumption was raised 10,000 barrels per day (bpd) to 8.89 million bpd, while the 2024 forecast was adjusted 30,000 bpd lower to 8.88 million bpd. Projected 2023 diesel consumption was unchanged from the May outlook at 3.68 million bpd, but the 2024 forecast was reduced 60,000 bpd to 3.65 million bpd.
The 2023 and 2024 projected ethanol production forecasts were both lowered 10,000 bpd, to 990,000 bpd and 1 million bpd, respectively. Ethanol consumption was projected 1,000 bpd lower in 2023 to…
10.18.2024
RIN prices fall week on week despite lower reported US biodiesel output
Prices for renewable identification numbers (RINs) fell week on week on Friday October 18 despite lower production reported for September, and US biofuels markets remain in limbo over awaited...
10.18.2024
US DCO prices decrease amid quiet trade week
US animal fats and oils markets ended the week stable to slightly lower on Friday October 18, following a quiet week of trading as many participants attended the American...
10.18.2024
Lackluster trade volume keeps weekly US animal proteins prices mostly steady
US animal proteins prices were steady to slightly lower for the week to Friday October 18 on limited trade volume.
Several market participants told Fastmarkets it was a...