Iran said it plans to pump as much oil as it can once sanctions on its crude exports are lifted, even if the extra output causes prices to slide.
The comments by Iranian oil minister Bijan Namdar Zanganeh reflect Tehran's determination to regain its role as a global oil power.
Sanctions will not be lifted before mid-2014, under a nuclear deal with six world powers that is meant to ensure the country cannot make atomic weapons.
Iran is pumping over 1 million barrels a day less than its normal production level of 4 million barrels a day.
Ahead of an OPEC meeting, Zanganeh said Iran was determined to regain its share "even if the price drops to $20."
The Brent crude rate is selling around $112 a barrel on Wednesday.
Iran's top diplomat meets with Emirati leader:
The United Arab Emirates said Iran's top diplomat has held talks with the US-allied nation's leader in a further sign of Tehran's outreach to its Gulf Arab neighbors.
Emirati state news agency WAM said Iranian Foreign Minister Mohammad Javad Zarif met Wednesday with the federation's president, Sheik Khalifa bin Zayed Al Nahyan, in the Emirati oasis city of Al Ain.
It said the Emirati leader told Zarif the UAE welcomed Tehran's decision last month agreed to freeze parts of its nuclear program in return for an easing of Western sanctions. He said his nation looks forward to enhancing regional security and boosting bilateral cooperation.
Iran has a tense relationship with the Gulf Arab states, though its new leadership is trying to mend ties. Zarif recently visited nearby Kuwait and Oman.
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Russia's foreign minister said an international deal aimed at preventing Iran from developing nuclear weapons will in the long run eliminate any need for a missile defense system in Europe.
American officials have said the missile defenses it wants to install in Europe will protect NATO allies and counter any threat from Iran. Russia has long opposed the plan, and sees the system as a threat to the viability of Russia's own nuclear arsenal as a deterrent.
In Geneva last month, leading world powers reached a deal with Iran to ensure that its nuclear program remains peaceful.
Russian Foreign Minister Sergey Lavrov told reporters after a meeting Wednesday with NATO counterparts there's "no reason" for the missile defense plan if that deal is implemented fully.
AP