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 back these 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.One thing a couple of oil company CEOs made clear on their first-quarter conference calls is that they have no desire to use that money for large-scale acquisitions.
Comment on Oil CEOs: Higher Oil Prices Haven’t Increased Our Appetite for M&A
newsfeedback@fool.com (Matthew DiLallo), The Motley Fool
Sun, 05/20/2018 - 12:20pm
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