VIENNA, June 3 (Reuters) - BP Chief Executive BobDudley said on Wednesday he sees "some softness" in oil pricesin the second half of the year as global supplies continue togrow.
"Supply growth continues to go up. We are at a balance withthe supply and demand right now," he said on the sidelines ofthe Organization of the Petroleum Exporting Countries (OPEC)seminar.
"I think we can see some softness in price continuing and asa result as an industry we must readjust cost structures, taxstructures around the world," Dudley said.
(Reporting by Dmitry Zhdannikov and Jonathan Leff; Writing byRon Bousso; Editing by Pravin Char)
BP (BP.)