It’s that wonderful point in every Scotland fan’s life where we start calculating just how we’re going to go out on goal difference, even if we somehow beat Croatia

The following is predicated on Scotland winning by a single goal. Here’s who to back in the other groups... #SCO
In Group A, where the final games are ‘live’, we really want Turkey to come from behind to either beat or draw with Switzerland.

If it stays 1-0 Switzerland will have same points & GD as Scotland, but more goals scored (if Scotland win 2-1 comes down to disciplinary record)
Group B is simple. Back Belgium to beat Finland (a draw leaves Finland ahead of Scotland on GD).

Denmark to beat Russia leaves 3 teams on 3 points and we’ve got our first elimination
Here Scotland fans back whoever is in front in Ukraine v Austria. We DO NOT want this game to finish in a draw, as both teams would have better GD and same points as Scotland. A win for either side creates the second elimination for a third place side on 3 points #SCO
Group D. Scotland’s group. The banter result would be somehow the Czech side beating England by three goals. This is sadly unlikely #sco
I interrupt this thread as Turkey have scored against Switzerland. Scenes. Remember - this is good for Scotland (provided we can somehow beat the last WC finalists. Allow us this dream). #SCO
Group E a bit more complex. For Slovakia v Spain the one result Scotland want to avoid is a draw. Odds are Spain *should* win so trying not to worry too much about it.

Sweden v Poland? Sweden to win or draw is fine (sorry Poland 🇵🇱). If Poland win they’ll be ahead of #SCO on GD
Switzerland now 3-1 up against Turkey. Pretty sure that’s them finishing on same points/GD as Scotland (again, if we somehow win by one goal vs Croatia). See how exhausting this is? We’ve waited 23 years to feel like this #SCO
Group F. The group of death. But it could do Scotland a favour

The big game for #SCO is France v Portugal. It may not be necessary if other groups go our way but safest result is a French win, sending Ronaldo home so Stephen O’Donnell can take his righteous place in the last 16
If Portugal beat France then #SCO want it to be by three goals or more... which is unlikely.

If Hungary somehow beat Germany again you’d want it to be by three goals or more. Also unlikely.

Just back France and Germany and all should be fine.
Having been through all that I think the two third place sides that will be eliminated, if not to come from Scotland’s group, are most likely to come from Groups B and C, which handily both play their final games before Scotland.
So #SCO fans should cheer on Belgium and Denmark tomorrow

AND

Pray for a victory for either Ukraine OR Austria.

Then it’s on us to win on Tuesday.

Group’s E & F could still bail us out (if Scotland win + groups B & C don’t go our way) but the stress would be...

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More from @OilSheppard

9 Jun 20
#SCOOP

Vitol: the inside story of the oil crash

The top oil trader has been dogged for months by rumours it lost big in oil crisis.

Here’s what really happened:

* Losses on derivative bets Feb/Mar
* Q1 net income down 70% to $180m

W/ @humenm #OOTT

ft.com/content/a8616e…
Some of the company’s traders thought the worst of the oil demand hit was over by mid-February as China appeared to be getting coronavirus outbreak under control.

We all know what happened next.

* Saudi-Russia price war
* Coronavirus goes global
* Oil demand crashes #OOTT
A rumour ripped through market about massive losses, likely given some credence by a headhunter emailing it to a rival. The headhunter retracted it.

The fact Vitol ultimately had positive Q1 net income pours cold water on number. People familiar say grossly exaggerated #OOTT
Read 6 tweets
28 Apr 20
Oil traders picking over the bones of last week’s plunge into negative prices for WTI have highlighted one area of interest - record volumes of “trading at settlement” contracts were executed that day, largely, they say, before prices went below zero #OOTT
Volumes of so-called TAS contracts were more than four times higher that Monday than on any day in 2019, and would be consistent with a large, not-particularly-sophisticated ETF or other oil-linked product looking to close out its position. #OOTT

ft.com/content/857515…
It’s not entirely clear who exactly was behind the TAS WTI contracts. But people in the industry say traders could see the volumes, if not the participants behind them. #OOTT
Read 10 tweets
12 Apr 20
The numbers show why Saudi Arabia’s attempt to blame Mexico over 300k b/d might not fly in US

S.Arabia oil output in February = ~9.8m b/d

S.Arabia current output = ~12.3m b/d (up 2.5m b/d)

S.Arabia’s new baseline for calculating Opec+ deal = 11m b/d (1.2m > Feb output)

#OOTT
The baseline adjustment for Saudi Arabia up to 11m - which other Opec+ members agreed to - still means they’re cutting almost 1m b/d less than if they hadn’t launched the price war.

Based off on 9.8m b/d a 23% cut would have meant going down to 7.5m, not 8.5m b/d #OOTT
And while there’s a lot of noise around baselines and fluctuations in production, Saudis output has averaged closer to 9.8m b/d in the past few years than it has to 11m #OOTT
Read 6 tweets
8 Apr 20
Provisional list of attendees for emergency meeting of G20 energy ministers on oil collapse, according to people familiar with the matter:

Minister level:
US
Japan
China
India
Brazil
UK
Canada
Mexico
Australia
Turkey
S. Arabia
Russia

Reps:
Germany
Spain
Italy
S. Africa #OOTT
This may change as it's a fast-moving picture, but this is current expectations

In terms of Trump's 10-15m barrel a day production cut they are hopeful of getting up to higher end of that range, including contributions from countries whose industries run by private sector #OOTT
But that means including projected production falls (rather than outright cuts) from private sector operations, based on reductions largely already announced to capital expenditure etc.

Russia has said today it would not be happy with that, particularly from US side. #OOTT
Read 5 tweets

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