June STEO Sees Reduced Gas, Ethanol, and Diesel Consumption in 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 930,000 bpd, and 3,000 lower in 2024 to 935,000…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...