Marca claim that the 19 year-old will be off to spend a season with his former under-21 coach Julen Lopetgui in Portugal at FC Porto who are also closing in on the signing of Liverpool young gun Suso who was also a part of the international youth set-up in Spain.
There's only a matter of fine details to sort through before a deal is struck between the La Liga champions and the Portuguese side as the Spanish club firmly believe that it would provide some healthy competition for places in order for Oliver to polish his skills.
Oliver made 22 appearances in all competitions last season for both Atletico and Villarreal, the side in which he spent the second half of the season at.
With the move to Porto, Oliver would also have the chance to get some top quality European action with Loptegui's side set to feature in the Champions League should they make it through the playoffs.