"We're back into the normal world of volatility for oil and gas prices," he said on a CNBC-hosted panel. "Anything that happens that fast can have unintended consequences."
BP was the first European major to sound the alarm on tumbling oil prices - on December 10, it warned that it was implementing a cost-cutting program as a result.
In December, oil majors in Europe also received a stark warning from credit ratings agency Standard & Poor's (S&P), which placed BP, Total and Shell on a negative watch. It means the three firms are more likely to have their debt rating downgraded over the next three months.
In January, BP announced job cuts in its onshore operations in the U.K. It told CNBC that it expected a reduction of around 200 staff and 100 contractor roles in light of "major reshaping" for the business and "toughening market conditions."
Speaking on the same panel in Egypt, Philippe Boisseau, president of marketing and services at Total, said the price of oil was going to stay where it is.
He added that speculators were trying to bet where the price will be in the future, but stressed that nobody had the answer.
"We have both lower demand...and also we have global oversupply," Boisseau said.