"Iran will offer its oil in the stock market, and the private sector can transparently buy and sell the crude through this market", Jahangiri added.
Saudi Arabia's output is up by 700,000 barrels per day (bpd) from May, a Reuters survey showed, and close to its 10.72 million bpd record from November 2016.
Oil prices rose last week on worries that USA sanctions against Iran would take away significant volumes of crude oil from world markets while oil demand worldwide increases.
"Our view is clear: The stronger the implementation and enforcement of a zero Iranian export scenario, the higher the oil price will go, with $100 per barrel crude a distinct possibility", it said. That's what we're doing.
Yet President Donald Trump's social media posts on Saturday helped unsettle the market when he tweeted that Saudi Arabia had agreed to pump more oil, "maybe up to 2,000,000 barrels", the tweet read, presumably meaning barrels a day.
Jahangiri's remarks came a day after Trump said that Saudi Arabia's King Salman had agreed to his request to ramp up oil production.
"Don't forget the one negative to the Iran deal is that you lose a lot of oil, and they got to make up for it".
"Continuation of exporting oil is symbol of victory against the USA sanctions and I hope we would witness this great victory through planning by the Oil Ministry", the vice president explained.
In Asia, the world's top oil consuming region, seaborne oil imports have been falling since May, as higher costs turned off consumers and as the escalating trade dispute between the United States and China starts to impact the economy.
Tehran and Riyadh are members of the Organisation of Petroleum Exporting Countries, a cartel that manages supply to the global market via production quotas so as to keep prices in member states' favour.
Trump warned at the time that other nations would face sanctions unless they stopped trading with Iran.