Oil companies selling RINs to raise quick cash

In Illinois, Reuters reports that oil refiners suffering from petroleum prices that appear to have no floor are looking to clean up their balance sheets quickly, and to do so are selling off RINs to raise cash. With oil demand expected to fall 15% to 20% globally over the next few months, the need to shore up finances as soon as possible is becoming a make or break situation for oil companies. Monroe Energy and Delek US Holdings were among those who sold off RINs recently.