The U.S. ethanol industry set a production record in May with 175,000 barrels/day, according to the U.S. Energy Information Administration. Production was up 36% compared to last May with 129,000 barrels/day.

The ethanol industry expects to produce nearly 2.7 billion gallons in 2003, up from a record annual production of 2.13 billion gallons in 2002.