DAVOS, Switzerland, Jan 21 (Reuters) - BP CEO BobDudley said on Thursday he expects downward pressure on oilprices in the next six months as Iran looks to quickly raisesupply.
"The first and second quarter will be very difficult... Itis a big shock for producing countries. It reminds me of (theoil crisis in) 1986," Dudley told reporters at the WorldEconomic Forum in Davos.
"Prices will remain low for longer but not forever " hesaid, adding that he believed markets would begin to rebalancelater in 2016 with oversupply shrinking and investment falling. (Editing by Jason Neely)