TEHRAN (ISNA)- Iran should boost trade with its Persian Gulf neighbors if a deal on its nuclear program sees sanctions and an oil embargo lifted, but higher Iranian crude production could worsen tensions within OPEC, analysts say.

Iran's oil exports plummeted as a result of the embargo imposed by the United States and European Union, dropping from about 2.2 million barrels per day (bpd) in mid-2012 to about 1.2 million bpd now.

Fellow OPEC members Saudi Arabia, Kuwait and the United Arab Emirates boosted production to make up for that, keeping supply levels stable.

Iranian officials have said Tehran is looking to return to pre-embargo levels, though experts say production increases will take time.

Iran's oil exports plummeted as a result of the embargo imposed by the US and EU, while fellow OPEC members Saudi Arabia, Kuwait and the United Arab Emirates boosted production to make up for that, keeping supply levels stable.

OPEC has already seen tensions high, with poorer members such as Algeria, Angola, Venezuela and Libya pushing for overall output to be reduced so prices can rise and they can boost revenues.

However, when it comes to trade with the six countries of the Persian Gulf Cooperation Council (GCC), Iran's new economic freedom is expected to lead to a boost.

More than 80 percent of Iran's trade with the bloc is with the United Arab Emirates, and Tehran is the UAE's fourth-largest trading partner.

Most of that trade originates from Dubai, home to a 400,000-strong Iranian community that runs a large business network.

UAE Economy Minister Sultan al-Mansouri said in June that trade exchange with Iran rose to $17 billion (15.5 billion euros) last year but remains lower than a record $23 billion in 2011 before sanctions began to bite.

The vice president of the Iranian Business Council in Dubai, Hossein Haghighi, said he expected a surge in trade after the lifting of sanctions.

Within the first year, total trade between the UAE and Iran is likely "to go up by between 15 and 20 percent", Haghighi told AFP.

Trade ties are also likely to grow with Oman, which has maintained good relations with the Islamic Republic of Iran.

By ISNA