The short interest data have been released for the May 31 settlement date. With oil prices seemingly on the path to recovery and global markets slowly getting stronger, short interest is now more important than ever to follow.

The May 31 short interest data have been compared with the previous figures, and short interest for most of the selected oil stocks decreased.

Chevron Corp. (NYSE: CVX) saw its short interest decrease slightly to 30.09 million shares from the previous reading of 30.58 million. Shares closed Thursday at $102.81, in a 52-week trading range of $69.58 to $104.26.

Exxon Mobil Corp. (NYSE: XOM) had short interest that grew to 45.67 million shares from the previous level of 42.36 million. Shares closed Thursday at $90.67, within a 52-week range of $66.55 to $91.30.

BP PLC (NYSE: BP) short interest increased to 18.34 million shares from its previous reading of 17.60 million. Shares closed Thursday at $33.04, in a 52-week range of $27.01 to $42.20.

ConocoPhillips (NYSE: COP) saw the number of its shares short decrease to 17.14 million from the previous level of 17.36 million. Shares closed Thursday at $46.57, within a 52-week range of $31.05 to $64.13.

Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, saw its short interest decrease to 108.48 million shares from the previous 111.81 million. Shares closed Thursday at $6.89, in a 52-week trading range of $2.71 to $9.72. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its woes in Brazil.

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Occidental Petroleum Corp. (NYSE: OXY) short interest decreased slightly to 11.23 million shares from the previous reading of 11.63 million. Shares closed most recently at $75.60, in a 52-week trading range of $58.24 to $79.75.

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