TEHRAN (Tasnim) � Iran�s oil production has risen to its highest level since sanctions were imposed against the Islamic Republic in 2012, a report said.

According to a Bloomberg survey of oil companies on Monday, Iranian production climbed by 50,000 barrels a day to 2.9 million this month, the highest since July 2012, when more sanctions were imposed on the Islamic Republic over its nuclear energy program.

�Output by the Organization of Petroleum Exporting Countries (OPEC) rose 108,000 barrels to 32.316 million a day this month. Last month�s total was revised 101,000 barrels higher to 32.208 million a day,� the report said.

Back on August 25, Iranian Oil Minister Bijan Namdar Zanganeh said the country will do its utmost to regain the share of �one million barrels per day of oil exports� in the global market immediately after a lasting nuclear deal between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) terminates the sanctions.

In less than a month after lifting of the sanctions, Iran�s crude output will rise by 500,000 barrels per day, the minister said, adding that oil exports in less than seven months afterwards will hit 1 million bpd.

With the doubling of Iran�s oil exports, even a more slump in the oil prices will not harm Iran; instead, the countries that had grabbed Iran�s market shares will suffer losses, Zanganeh stated.

�It is our right to retake our share from the market,� he stressed, noting that Tehran has begun to hold talks with South Korea, Japan, India and some European companies to boost oil exports.

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion on a lasting nuclear agreement that would terminate all sanctions imposed on Tehran over its nuclear energy program after coming into force.

By Tasnim News Agency