IEA says Brazilian ethanol shortage will materially slow global biofuels growth
In France, the International Energy Agency (IEA) says that global ethanol production growth will slow significantly due to Brazil’s production hiccups as production fell 75,000 barrels per day to 375,000 bpd. The IEA expects Brazilian production to reach 530,000 bpd by 2016. The agency has cut its annual production growth expectations to 400,000 bpd per year through 2016 from its previous expectation of 500,000 bpd.
Source: Bloomberg, December 13, 2011