ConocoPhillips, Venezuela's PDVSA reach $2 billion settlement

Venezuela's crude production, a major source of revenue, has fallen to a six-decade low this year as lack of investment, recession and hyperinflation pushed the OPEC-member country's economy to near collapse.The settlement could restore a portion of lost exports by resuming shipping from the Caribbean.Conoco will suspend legal enforcement of the arbitration award as long as payments continue, spokesman Daren Beaudo said.