Fuel Demand Rout Sends U.S. Ethanol Output to Lowest in a Decade

The American ethanol industry is cutting production like never before as coronavirus lockdowns keep drivers off the roads, crushing demand for fuel.

Output of corn-based biofuel plunged by a record 20% to an average daily rate of 672,000 barrels. That’s the lowest rate since the Energy Information Administration began publishing weekly data in mid-2010. Stockpiles jumped to a record 27 million barrels, underscoring the demand struggles.