Iran's oil prices declined $8 in May
Azerbaijan , Baku, June 11/Trend/
Iran 's oil prices faced $8 decline in May to $108.28 per barrel, Fars News Agency reported quoting OPEC's monthly report.
Iran 's heavy oil price had $8 decline due to price reduction in international market in May reaching to $108.28 per barrel.
OPEC reported the average price of Iran's heavy oil since of 2011 at $104.86 per barrel.
Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.