According to a report from Tatame.com, Oliveira will be kept on the roster, and will be making a drop to the featherweight division for his next fight.
"Joe Silva thanked me for having accepted the fight in such a short notice and was glad that I went there to fight anyway, to be in action against Tibau... I still am a UFC fighter," Oliveira said.
"I'll go down to the featherweight division, I want to be in UFC. I'll do my best, I'll grab this chance that God has given me."
The Brazilian holds a 14-4 record, and had won four straight fights after his 2010 UFC release before getting the call to face Tibau.
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Penick's Analysis: Oliveira gave a good effort on short notice against Tibau, but there was a definite size disadvantage apparent in the fight. A move to featherweight seems a good one for him, and he may be able to have more success in that weight class in the UFC. However, another loss in his next fight would probably be his last inside the Octagon, as it would put his record at 1-4 in five UFC fights.