Internacional insist they have not received any offers for Oscar, but have not ruled out a move away for the playmaker.
Reports have suggested Chelsea have stolen a march on Premier League rivals Tottenham by making an offer for the highly-rated 20-year-old.
Oscar's agent, Carlos Meinberg Neto, claimed Chelsea had tabled a €25million (£19.8m) bid for the Brazil international and that a deal could be done soon.
However, Internacional president, Giovanni Luigi, claims there have been no offers for Oscar or his team-mate Leandro Damiao, who also been linked with a move to Tottenham.
Luigi admits Internacional may be forced to sell a player before the close of the transfer window, but is adamant they have yet to receive an offer for any player in their squad.
"There have been no offers for Oscar and Leandro Damiao," Luigi told Radio Gaucha.
"Internacional have the practice of selling one or two players every transfer window.
"This system has been working and we will keep it, developing players, then finding replacements if they are sold while the window is open.
"So we might sell a player, but right now no offer has been made for any player in the squad."
Oscar admits he is in the dark over Chelsea's reported interest in him and that he will let his club decide his future.
"I follow there and sincerely I do not know news about Chelsea," Oscar told O Globo.
"I know that some European clubs are interested in me but I have spoken with the president ( Giovanni Luigi) and he insists that they still have not received any formal offer."