"We expect that the oil industry will be investing less over the short term and that some projects will be delayed. We're already seeing a decrease in tendering activity,” Kaeser said in the text of a prepared speech on Tuesday.

“At the same time, we're not ruling out the possibility that some oil-exporting countries will reduce their expenditures on infrastructure if oil prices remain at their current level."

Earlier on Tuesday, Siemens said profit from its industrial units fell 4 percent last quarter, driven by a drop at its power and gas unit, where it is grappling with price pressure, and its healthcare unit.

(Reporting by Georgina Prodhan; Writing by Thomas Atkins; Editing by Maria Sheahan)