The short interest data have been released for the January 29 settlement date. It just so happens that some of the latest short interest readings for major oil companies are backing off of highs, while others are attempting to push new highs.

The January 29 short interest data have been compared with the previous figures, and short interest for the selected stocks is largely down.

Chevron Corp. (NYSE: CVX) saw its short interest decrease to 26.34 million shares from the previous reading of 27.23 million. Shares closed Tuesday at $82.92, in a 52-week trading range of $69.58 to $112.93.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest fall slightly to 52.11 million shares from the previous level of 52.19 million. Shares closed Tuesday at $80.08, within a 52-week trading range of $66.55 to $93.45.

BP PLC (NYSE: BP) short interest decreased slightly to 7.58 million shares from its previous reading of 7.71 million. Shares closed Tuesday at $28.95, in a 52-week trading range of $27.56 to $43.85.

ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 43.94 million from the previous level of 44.57 million. Shares closed Tuesday at $33.58, within a 52-week trading range of $31.59 to $70.11.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest increase slightly to 191.18 million shares from the previous 196.39 million. Shares closed Tuesday at $2.99, in a 52-week trading range of $2.71 to $10.55. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its woes in Brazil.

Occidental Petroleum Corp. (NYSE: OXY) short interest jumped to 15.71 million shares from the previous reading of 15.00 million. Shares closed most recently at $65.22, in a 52-week trading range of $58.24 to $83.74.

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