Oakwood is a town in Dewey County, Oklahoma, United States.

According to the United States Census Bureau, Oakwood has a total area of 0.23 square miles (0.6 km2), all land.

There were 48 housing units at an average density of 203.9 per square mile (78.7/km2).

42.9% of all households were made up of individuals, and 20.0% had someone living alone who was 65 years of age or older.

There were 18.2% of families and 22.0% of the population living below the poverty line, including no under eighteens and 50.0% of those over 64.