By Sarah Kent

LAUSANNE, Switzerland--Oil prices could remain under pressure through 2016 as significant stock builds now take time to be absorbed into the market, and even after supply and demand becomes more balanced, BP PLC's chief economist said Tuesday.

Speaking at the FT commodities global summit, Spencer Dale said he expected the oil market to return to balance as soon as the end of this year, as lower prices damp supply and increase demand. But this won't necessarily lead to a speedy price recovery.

"That's not the problem solved, it just marks the point at which the market stops getting worse," Mr. Dale said.

Large volumes of oil are being placed in storage amid a global supply glut. The build-up of a stock overhang of several hundred million barrels is likely to maintain pressure on the market for months after supply and demand returns to balance, Mr. Dale said.

Write to Sarah Kent at Sarah.Kent@wsj.com