Question : How to parse the output of a command in a Bash script

I have a bash script that runs the code seen below. It executes the command ec2-create-volume which outputs :
VOLUME  vol-eb8a7b12    1               us-east-1a      creating        2009-03-25T01:27:13+0000

I need to parse this output to put vol-eb8a7b12 into a variable.

Code Snippet:

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if [ ! $(RM_SPACE ${CREATE_EBS[1]}) ]; then ec2-create-volume --snapshot $(RM_SPACE ${CREATE_EBS[2]}) --availability-zone $(RM_SPACE ${CREATE_EBS[0]}) elif [ ! $(RM_SPACE ${CREATE_EBS[2]}) ]; then ec2-create-volume --size $(RM_SPACE ${CREATE_EBS[1]}) --availability-zone $(RM_SPACE ${CREATE_EBS[0]}) else ec2-create-volume --size $(RM_SPACE ${CREATE_EBS[1]}) --snapshot $(RM_SPACE ${CREATE_EBS[2]}) --availability-zone $(RM_SPACE ${CREATE_EBS[0]}) fi

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Answer : How to parse the output of a command in a Bash script

output=(`bashscript`)
variable=${output[1]}