Petrobras’s short interest
Petrobras (PBR) has witnessed a 46% fall in its short interest since the end of January 2016. This indicates that the bearish sentiment for the stock is weakening. During the same period, PBR’s stock price more than doubled.
Peers short interest position
In the same period, Royal Dutch Shell (RDS.A), Suncor Energy (SU), and Total (TOT) witnessed a fall in short interest by 41%, 15%, and 65%, respectively. Their stock prices have risen by 25%, 16%, and 7% since the end of January. The iShares Core S&P 500 ETF (IVV) has a ~7% exposure to energy sector stocks.