Portuguese newspaper Record reported over the weekend that the Blues have shown interest in the 24-year-old and will now battle with Sheffield Wednesday for the signing.
Oliveira is reportedly not part of Rui Vitória’s plans for the next season and it’s very likely that he will be loaned again, as he already spent the last year at Nottingham Forest.
Despite coming through Benfica’s youth levels, the player never had many chances for the Portuguese side. He was promoted to the first team squad in 2009, but that only led to loan spells at Rio Ave, Paços Ferreira, Deportivo La Coruña, Rennes, Swansea City and Nottingham Forest.
The striker scored nine goals in the Championship last season. His contract with Benfica runs until 2018.