 He scored in the group and knockout stages of the 2003 Copa Libertadores, and he appeared in both legs of the final, although his team lost to Boca Juniors.On 31 July 2003, Oliveira moved to Spain and joined Valencia CF, signing a five-year contract with Santos retaining part-ownership.Under the guidance of Rafael Benítez he scored eight La Liga goals in 21 games, including a fantastic long-range effort at FC Barcelona in a 1–0 win in October, netting a hat-trick the following month at RCD Mallorca (5–0 victory).