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There is such a scheme. However, it doesn't yet cover the city centre, which is why you can't (yet) find any docking stations in the main tourist areas
The scheme is called OxonBike, and is run in conjunction with the county council.
Currently, all the docking stations are "up the hill", in and around Headington. They're around Oxford Brookes university, the hospitals and the like. A map of the stations can be found on the OxonBike website
There's currently no announced date for when the scheme may extend down the hill and into the main tourist areas in the city centre.
Upvote:1
Brompton Bike Hire is also available in Oxford. The iconic foldable bikes are available from Β£2.50 a day. http://www.bromptonbikehire.com/our-docks/oxford-2624/