Iraq's oil export revenues fell by 8.9 per cent in August to $7.1 billion from $7.8 billion in July, the Iraqi oil ministry said in a statement.

Oil exports were at 73.6 million barrels for August, the oil ministry said, citing the state Oil Marketing Organisation (SOMO).

The selling price for Iraq's crude slid to $97.4 per barrel from $102.8 in July.

Oil production fell in August to an average of 2.375 million barrels per day (bpd) from 2.442 million bpd in the previous month, officials from the state-run South Oil Company (SOC) said earlier this month.

Iraq exports the bulk of its oil from its southern ports. But shipments from the northern oilfields of Kirkuk have been shut in since March 2 due to attacks on a pipeline to Turkey, keeping total exports below their potential.

Opec member Iraq is facing a Sunni Islamist insurgency and has seen Islamic State fighters seize control of large swathes of land in the north and west.

Iraq's mainly Shi'ite south, the location of the majority of the oilfields being developed by foreign firms, has been relatively safe and stable for the past two years. - Reuters