BP mulls options to weather any further price falls

Global giant says deflated market, improved efficiency could stimulate Chinese economy

Oil and gas giant BP Plc expects crude oil prices to keep falling in the short term as global supplies continue to outpace demand this year.

"A low price environment is probably what we should plan in the short term if we are prudent, because currently there is an excess amount of supply," said Dev Sanyal, BP's executive vice-president for strategy and regions.