The price of oil has been trending higher over the past few months, with winners and losers amongst the oil stocks. The average oil stock short base has risen slightly over this period, and stands at about 1%. Borrowing fees have also been increasing although this has been concentrated in a few key stocks.
In this note we show the short base for 18 oil companies around the globe, focusing on those which have seen significant short activity. Stocks with an increasing trend in short base include BP (BP), Marathon (MRO), Delta (DPTR) and China North East (NEP). There have been sharp drops in Exxon (XOM), Imperial (IMO), Conoco (COP), Suncor (SU), Apco (APAGF) and Enterra (ENT).
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