BAGHDAD, Muharram 20, 1436, Nov 13, 2014, SPA -- The Kurdish regional government in northern Iraq says it has reached an agreement with Baghdad over longstanding oil and budget disputes, AP reported. In a statement posted on its official website Thursday, the Kurdish government said it had agreed to sell 150,000 barrels of oil per day to the federal government for $500 million. Earlier this year, Baghdad cut the 17 percent of the state budget some $20 billion in this year's projected budget — that is supposed to go to the Kurdish region. The central government withheld the funds after the Kurds began transporting oil from fields inside the autonomous zone to Turkey against Baghdad's wishes. -- SPA 20:48 LOCAL TIME 17:48 GMT www.spa.gov.sa/w