Loren Taylor had held the lead since election night on Nov. 8, but Sheng Thao has been closing the gap.
[Ads /]
RELATED: 2022 Midterm California Election Results: Who won governor race, propositions
Thao has taken the lead for the first time, but by the slimmest of margins... just under 700 ranked-choice votes - while Taylor holds the lead in total first-choice votes.
It's the ranked choice system that will determine the next mayor.
VIDEO: Confused about ranked-choice voting? Here's how it works
VIDEO: Ranked-choice voting explained
Thao's team sent ABC7 News a statement reading:
"It's been a long week and a half and we have been humbled to watch the results shift in our favor with each passing day. With the latest results posted by the Registrar of Voters, we have taken the lead with very few votes left to count. We are optimistic that our lead will hold and that Sheng Thao will be the next Mayor of Oakland."
Taylor wrote in a series of tweets on Saturday morning, writing: "I want to thank the Registrar and his staff for conducting the vote count in a deliberate and transparent manner. I am honored to have won the most first place votes out of any candidate in the race to be Oakland's next Mayor."
He goes on to say: "Given the incredibly close margin based on last night's instant runoff results, I believe it is premature to declare victory or defeat at this time. I appreciate that Councilmember Thao and members of the media seem to agree."
RELATED: Alameda Co. voters to make history electing 1st Black DA: Here are candidates' stances on issues
[Ads /]
In the race for Alameda County District Attorney - civil rights attorney Pamela Price is declaring a win over prosecutor Terry Wiley.
Wiley conceded the race Friday night and congratulated Price in a statement.
This race is making history - with Price becoming the first Black Alameda County district attorney.
She released this statement reading in part, "the key numbers are a confirmation of our victory. We knew this election was going to be an exclamation point in history for Alameda County."
Stay with ABC7 News for the latest election news here.
LATEST STORIES & VIDEOS:
- CA proposition results: From abortions to electric vehicles, here's what's projected to pass or fail
- Election results 2022: Key takeaways and race results so far; House, Senate control unclear
- 2022 Midterm California Election Results: Who won governor race, propositions
- Election Maps: Senate and House balance of power, governors races, California overview
- Here are the candidates who will make history with projected midterm election wins
- 5 baseless 2022 election conspiracy theories, fact-checked
- Slavery rejected in some, not all, states where on ballot in 2022 election
- Abortion law: Rights protected in Michigan, California, Vermont
- Live ballot tracker: Find out how many ballots have been returned in California by county
[Ads /]
If you're on the ABC7 News app, click here to watch live