U.S. ethanol production reached about 10.56 billion gallons in the past year, displacing about 364 million barrels of imported oil, according to an annual report by the Renewable Fuels Association. The U.S. raised its ethanol output in the past year by 1.37 billion gallons, with 19 plants coming into production, the group's report noted. U.S. ethanol now accounts for more than 50% of the world's total biofuel output, the report added.

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