2. Ethanol Production Falls to Lowest in More Than Three Months Ethanol output last week fell to the lowest level in more than three months while inventories of the biofuel also declined, according to the Energy Information Administration. Production fell to an average of 933,000 barrels a day in the week that ended on January 22, the EIA said in a report. That’s down from 945,000 barrels a day, on average, the previous week and the lowest level since the seven days that ended on October 16, the agency said. In the Midwest, by far the biggest producing region, production dropped to an average of 889,000 barrels a day, down from 902,000 barrels a week earlier and the lowest output since the week that ended on January 1.