Iran sets up oil task force with senior officials

Iran's government has set up a special task force of top officials to decide on oil-related affairs on behalf of President Mahmoud Ahmadinejad, a business daily said on Thursday.

It appeared to be a bid by Ahmadinejad to strengthen his control of and influence over the industry in Iran, the world's fifth-largest oil exporter.

Jahan-e Eqtesad, an Iranian newspaper, said Ahmadinejad made the proposal to set up the task force. Its members include the ministers of oil, industries, foreign affairs as well as the central bank governor and other senior officials.

It did not give further details.

During his first four-year term, Ahmadinejad faced criticism over his government's profligate spending of petrodollars when oil prices were soaring, leaving the country more vulnerable when they fell last year.