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Colombia election win raises hopes for oil sector revival
A narrow, post-recount victory for Abelardo de la Espriella puts Colombia’s oil industry at the center of an agenda targeting 7% annual GDP growth.
Oilprice reports that Abelardo de la Espriella won Colombia’s closely contested presidential election after an official recount, with opponent Ivan Cepeda conceding defeat.
The outlet says the margin of victory was less than one percent, making the result one of the closest elections in Colombia’s modern history and fueling controversy over De la Espriella’s next steps in office.
Oilprice argues that De la Espriella’s presidency could be a major boost for Colombia’s economically critical, beaten-down oil industry, as his platform focuses on reviving the fiscally strained economy.
The article links that economic strategy to a stated goal of 7% annual GDP growth, noting that De la Espriella is supported by Vice President José Manuel Restrepo Abondano, who previously served in Colombia.