Short interest data for major oil stocks was released for the November 14 settlement date. Most of the top oil stocks, with the exception of ConocoPhillips, saw their short interest rise in this period. We have added color on each and included a trading range for comparison. There is an obvious trend here, and that is that lower oil prices will weigh on the earnings of oil giants.

BP PLC (NYSE: BP) saw its short interest increase to 8.61 million, with 1.41 days to cover. The level has been increasing over the past four periods, down from its relative high in September. The company’s stock closed Tuesday at $41.57, against a 52-week trading range of $39.45 to $53.48.

Chevron Corp. (NYSE: CVX) saw its short interest move up to 16.4 million, with 2.30 days to cover. Chevron’s previous short interest readings were 16.3 million for late-October and 13.9 million in mid-October. Short interest had a relative high in late August of 20.3 million. The company’s shares closed Tuesday at $116.15, and they have a 52-week trading range of $106.65 to $135.10.

ConocoPhillips (NYSE: COP) saw its short interest level increase to 25.3 million. Days to cover was 3.35. The reading for short interest in late October was 22.97 million, with 2.75 days to cover. The short interest level for ConocoPhillips has broken out of its normal range for the year of 20 million to 25 million, the last readings above this level were in late June and mid-July. The company’s stock closed Tuesday at $71.73, within a 52-week trading range of $62.74 to $87.09.

Exxon Mobil Corp. (NYSE: XOM) saw its short interest increase to 42.4 million, with 3.6 days to cover. The previous level was 42.1 million. Following the late August short interest settlement date, Exxon has posted its 5 lowest short interest levels in the past 52-weeks. Exxon closed Tuesday at $94.78, within a 52-week trading range of $86.91 to $104.76.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest fall to 88.8 million, with 2.19 days to cover. The previous short interest level for Petrobras was 93.6 million. This made a huge jump from the reading in mid-October of 37.6 million. This huge decline from previous levels can be attributed to Brazilian politics and a recent election. The shares closed Tuesday at $10.60, within a 52-week range of $8.80 to $20.94. While lower oil prices are the catalyst elsewhere, U.S. and Brazilian investigations into an alleged kickback scheme have weighed heavily on Petrobras.

Occidental Petroleum Corp. (NYSE: OXY) saw its short interest increase to 9.9 million, with 1.72 days to cover. The level for late October was recorded at 9.2 million, and for mid-October was 8.5 million. The short interest reading for the end of September was the fifth lowest for the past 52 weeks and the lowest relative reading since February. The company’s stock closed Tuesday at $86.36, and it has a 52-week trading range of $82.30 to $105.64.

ALSO READ: Are Oil Analysts Getting Too Pessimistic With Lower Oil Prices?

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