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The Petro effect

Monday, July 4th, 2022 Category: Long Form Reports
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The Petro effect

No one likes to be blamed for something they didn’t do. In the days following Gustavo Petro’s victory in Colombia’s recent presidential elections, Colombia-focused oil and gas stocks nosedived, with Ecopetrol in particular losing over 25% of its value at one point. Petro says “I’m not to blame” saying all oil and gas stocks were in decline because of the inevitability of energy transition. Let us use the data to see if he is right.

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