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…
10.21.2024
US Supreme Court agrees to hear issue on Small Refinery Exemptions venue
Biofuel groups Growth Energy and the Renewable Fuels Association (RFA) both praised on Monday October 21 the US Supreme Court’s decision to grant certiorari on petitions relating to the...
10.21.2024
US fats markets quiet; cattle slaughter set to decline by end of November
The US fats market was quiet on Monday October 21, with no changes to start the new week.
In other news, Fastmarkets’ research team forecast cattle slaughter at...
10.21.2024
Animal protein prices flat on limited trading
Trading was mostly quiet in the US animal protein market on Monday October 21 with minimal changes reported. Several market participants are attending the North American Rendering Association (NARA)...