RFS: RIN Generation Nov '24 Highlights

D3 Up&Up, EIA vs EPA data, Washington DC Drama

November Gross RIN Generation

Although RIN generation in November dropped 6.3% vs October or 164 million RINs to 2,103 million RINs, on a daily basis RIN generation only dropped by 3.2% to 67.7 million RINs/day in November. In typical EPA fashion, October RIN generation was revised upwards by 65 million RINs.

• D3 RIN gen: 89 million vs 93 million in Oct

• D4 RIN gen: 732 million vs 784 million in Oct

• D5 RIN gen: 19 million vs 23 million in Oct

• D6 RIN gen: 1,191 million vs 1,268 million in Oct

• Total RIN gen: 2,031 million vs 2,168 million in Oct

As the RD production boom cools, November YoY growth was the slowest annual growth in in the past 5 years at 1.4%.