Putin's revelation that Russia is prepared to join OPEC production cuts creates oil price volatility.

1. Putin Says Russia To Join OPEC Production Cut

The announcement on Monday quickly influenced oil markets, with global benchmark Brent rallying, hitting a one year high, rising $1.21, or 2.3%, to $53.14 a barrel on ICE Futures Europe. (Forbes)

2. Russia's Rosneft Boss Sechin Says No to OPEC Oil Cap

Despite Putin's comments to an energy congress that Russia is ready to join a proposed OPEC cap, Igor Sechin, Russia's most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of the possible agreement. (Reuters)

3. Oil Prices Pull Back After Industry Watchdog Reports a Jump in Record Output

Oil prices pulled back Tuesday after the monthly report from the Paris-based International Energy Agency said global supplies rose in September. (MarketWatch)

4. Marathon Sues BP for Breach of Contract in Texas Oil Refinery Sale

Marathon Petroleum Corp alleged BP Plc failed to deliver a Texas oil refinery and three products terminals in the condition promised under a $2.4-billion sales agreement signed in 2012, according to a federal lawsuit filed Monday. (Reuters)