Oil CEOs: Higher Oil Prices Haven’t Increased Our Appetite for M&A

Oil prices have been scorching hot over the past year, up nearly 50% and recently reaching into the $70s. Because of that, oil companies are flush with cash. However, after getting burned by plowing all their money into more wells in the past, they're holding backthese days. That leaves them with an interesting dilemma of what to do with the gusher of free cash flow they're generating at current prices.