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. …read more
Source:: Yahoo Finance
