The 17-year-old is rated as one of English football’s most promising youngsters, having already made 13 senior appearances for the Hammers and represented England 25 times at youth level.
His commanding performance against Arsenal on the opening day of last season immediately heralded speculation of a move to Manchester City or Manchester United.
The title-chasing duo have been linked once again this summer, with City, United and Spurs scouts reportedly watching Oxford in England U19s action back in July.
But according to The Sun, the defender-come-midfielder now looks set to stay at the Olympic Stadium after convincing Slaven Bilic that he’s worthy of a first-team role this season.
They quote a Hammers insider as saying; “Reece has developed over the summer. He has been away with England and looks what we have always believed him to be, a player of huge potential.
“It’s obviously down to the manager, but it will be a shock to many if he isn’t a regular first team squad member. He will get his chance at the back this season. We are very excited by the potential in the lad.
However, the East London side are still yet to extend Oxford’s contract, which is due to expire at the end of next season.