With thousands of oil wells choking back or completely <-bsp-bb-link state="{"bbDocId":"Q9RI9AT0G1KW","_id":"00000171-f4a3-d816-aff3-ffefbe600000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">shutting off production-bsp-bb-link>, companies already are looking ahead to what may prove to be an even bigger challenge: turning wells back on.
U.S. and Canadian oil producers are curbing as much as 4.5 million barrels of daily supplies, according to <-bsp-bb-link state="{"bbHref":"bbg://securities/paa%20%20Equity/splc","_id":"00000171-f4a3-d816-aff3-ffefbe600001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Plains All American Pipeline LP-bsp-bb-link>. In the U.S. alone, drillers have announced plans to halt more than 600,000 barrels of daily output this month and next, said Rystad Energy AS. Old-style, conventional wells were the first to go down and the closures are expanding to some of the horizontal ...
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