Again, another example where a caring considerate government would say OK, at this time, we do not advise any non essential travel until 1st January 2021
. Then most insurance companies would have to cough up. But no, despite many hints
around the globe that this pandemic and the countermeasures will remain to some degree in place until well into next year.
The initial details of the deal, outlined by Opec+ on Thursday, would have seen the group and its allies cutting 10 million barrels a day or 10% of global supply from 1 May. Another five million barrels were expected to be cut by other nations outside the group such as the US, Canada, Brazil and Norway.
It said the cuts would be eased to eight million barrels a day between July and December. Then they would be eased again to six million barrels between January 2021 and April 2022.
why would these battling producers finally agree to such a long production cut unless they're basing it on projections that we're not privy to. I know why they ordinarily cut production, to force the price of a barrel up, but if the world is about to spring back into life, it's reasonable to expect that the need for oil will shoot back up as manufacturing tries to regain lost ground.
Another hint as to how long the measures are likely to last for, will be to monitor what the various hedge funds and short sellers are doing.
I consider myself lucky, I'd planned a one last trek interrailing around Europe for 3 months this summer, but was waiting until the exchange rate was perfect. It had reached 1.20 but at the same time, middle of February, this virus was starting to look very serious indeed so I wavered and waited. I would have paid for everything by credito cardo so even if the insurance baulked at refunding, I'd have section 75 cover. But any single night's accommodation I might have booked would have been too cheap to be covered.
I honestly cannot imagine that international travel would be sensible by June this year. Insurance companies aren't going to take on any fresh risk, if and when
there is another wave of infections, which could be even worse, then the shutters will come down even quicker than the first time as the authorities will be practised at it. Stick to England, it's safer.