VIENNA: BP Chief Executive Bob Dudley said on Wednesday he sees “some softness” in oil prices in the second half of the year as global supplies continue to grow.
“Supply growth continues to go up. We are at a balance with the supply and demand right now,” he said on the sidelines of the Organization of the Petroleum Exporting Countries (OPEC) seminar.
“I think we can see some softness in price continuing and as a result as an industry we must readjust cost structures, tax structures around the world,” Dudley said.
