Updated at 7:14 p.m. ET

Reddit interim CEO Ellen Pao has resigned from the company in the wake of an insurrection last week in which moderators shut down many of the site’s most popular sections following the still-unexplained dismissal of a popular figure in the site’s r/IAmA section.

Reddit made the announcement on its website and said Steve Huffman, the founder and original reddit CEO, is returning to the helm.

“We are thankful for Ellen’s many contributions to reddit and the technology industry generally,” the statement said. “She brought focus to chaos, recruited a world-class team of executives, and drove growth. She brought a face to reddit that changed perceptions, and is a pioneer for women in the tech industry. She will remain as an advisor to the board through the end of 2015. I look forward to seeing the great things she does beyond that.”

The statement said the departure was by mutual agreement.

“In my eight months as reddit’s CEO, I’ve seen the good, the bad and the ugly on reddit,” Pao said in a separate posting on the site. “The good has been off-the-wall inspiring, and the ugly made me doubt humanity.”

Pao was named interim CEO last November after CEO Yishan Wong resigned amid a controversy over the publication of stolen celebrity photographs on reddit.

In her statement today, she added:

“I just want to remind everyone that I am just another human; I have a family, and I have feelings. Everyone attacked on reddit is just another person like you and me. When people make something up to attack me or someone else, it spreads, and we eventually will see it. And we will feel bad, not just about what was said. Also because it undercuts the authenticity of reddit and shakes our faith in humanity.”

As we have been reporting, Pao was the focus of much anger following the dismissal of Victoria Taylor, who ran reddit’s r/IAmA (Ask Me Anything) section. Taylor, as NPR’s Steve Mullis reported, “was often organizer, mediator and even transcriber for many of the AMAs.” The section draws actors, musicians, President Obama and even NPR reporters to answer questions submitted from the vast community.

Steve reported that Taylor’s sudden departure prompted “moderators of r/IAmA [to] set the section to ‘private,’ effectively closing it to anyone but the moderators. Once word of Taylor’s firing began to spread, moderators of other popular sections (called subreddits) that cover movies, science, gaming and a host of others also went private, making much of reddit essentially useless to regular site visitors.”

After the outcry, Pao apologized for a “long history of mistakes.” And she told NPR in an interview: “We have apologized for not communicating better with the moderators. They should have been told earlier about the transition and we should have provided more detail on the transition plan.”

But that did little to quell demands for her resignation.

In comments on reddit, Alexis Ohanian, the site’s co-founder, lauded Pao’s work at the company and said it was his “decision to change how we work with AMAs and the transition was my failure and I hope we can keep moving forward from that lesson.”

Pao herself addressed why she was leaving the company.

“Ultimately, the board asked me to demonstrate higher user growth in the next six months than I believe I can deliver while maintaining reddit’s core principles,” she said in her posting.

Reddit, which is commonly known as “the front page of the Internet,” has more than 160 million monthly visitors.

Pao is a figure of controversy in Silicon Valley. She unsuccessfully sued her former employer Kleiner Perkins Caufield and Byers, a venture capital firm, claiming that systemic gender discrimination meant she was denied for promotions and ultimately fired.

Huffman, the new CEO, founded Reddit in 2005 with Ohanian, his roommate at the University of Virginia. It was bought in 2006 by Advance Publications, the parent company of Condé Nast, which owns The New Yorker and Vanity Fair. Huffman left the company soon after that to pursue other ventures.

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Oil prices have further to fall before bottoming out amid a surge in production, mainly by OPEC nations, and a weakening of global demand, according to the International Energy Agency’s latest forecast.

In the second quarter of 2015, the world’s supply of oil was 96.39 million barrels a day, outstripping demand of 93.13 million barrels a day, according to the IEA’s Oil Market Report, which described the world oil market as “massively oversupplied.”

But it cautions that: “The market’s ability to absorb that oversupply is unlikely to last. Onshore storage space is limited. So is the tanker fleet. New refineries do not get built every day.”

The report says demand in 2016 will likely remain low.

Reuters reported Friday that the price per barrel of Brent crude oil is up 7 cents at $58.68, but that so far this month the international benchmark has lost more than 7 percent.

The IEA notes that a slowdown in demand this year comes as supplies from the Middle East, Russia and the U.S. are at or near a peak. It says its forecast for a rebalancing “has shifted a bit, but the storyline has not changed. The supply response to lower prices is on the way.”

The Wall Street Journal writes:

“World events could further rock the market, the IEA said. Iran is close to a deal with world powers that would lift crippling sanctions on the Islamic Republic in exchange for curbs on its nuclear program. That would open much of the West to Iranian crude exports again, bringing as much as 1 million new barrels a day into the market. The country could raise exports immediately out of 40 million barrels currently stored on its vessels, the IEA said.

?”If Greece were to exit the eurozone, it could lead to depressed demand there and throughout Europe, the IEA said.”

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Victoria Taylor, famous for her role in Reddit’s popular r/IAmA section, has broken the silence over her dismissal that prompted an insurrection last week in which moderators shut down many of the site’s most popular sections.

Posting on Reddit, Taylor thanked those who rallied to her defense, calling the response “extraordinary.”

“I know many of you may be curious about what’s next for me, and I’m still figuring that out,” she wrote. “However, I can assure you, wherever the road leads, I will live up to the faith you’ve had in me.”

Taylor’s note comes just days after Reddit CEO Ellen Pao apologized to users of the popular website, citing a “long history of mistakes” that led to Taylor’s dismissal on July 2. Reddit has not publicly said why it let Taylor go, and Taylor’s own posting today does little to shed light on what happened.

Reddt’s r/IAmA (Ask Me Anything) section draws actors, musicians, President Obama and even NPR reporters to answer questions submitted from the vast community. Taylor’s role, as NPR’s Steve Mullis reported last week, “was often organizer, mediator and even transcriber for many of the AMAs.”

Steve reported that Taylor’s sudden departure prompted “moderators of r/IAmA [to] set the section to ‘private,’ effectively closing it to anyone but the moderators. Once word of Taylor’s firing began to spread, moderators of other popular sections (called subreddits) that cover movies, science, gaming and a host of others, also went private, making much of reddit essentially useless to regular site visitors.”

Reddit, which is commonly known as “the front page of the Internet,” has more than 160 million monthly visitors.

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