By Sarah Kent

ABU DHABI--BP PLC (BP.LN) sees oil prices staying in the $60-a-barrel range for at least the next three years as supply continues to outstrip demand, Michael Townshend, the company's Middle East chief, said Tuesday.

"In terms of supply demand you don't see demand exceeding supply until the back end of next year. When that does happen ... you would still need to work off stocks which could take another couple of years," Mr. Townshend said in a news briefing on the sidelines of a conference in Abu Dhabi. He said the view didn't take into account political shifts such as the potential impact of returning Iranian barrels.

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

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(END) Dow Jones Newswires

November 10, 2015 01:15 ET (06:15 GMT)

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