Dissolve yeast in warm water in a large bowl. Add molasses; let stand 5 minutes. Lightly spoon flour into dry measuring cups; level with knife. Combine 1 cup flour, oats, oil, and salt. Add flour mixture to yeast mixture, stirring to form a soft dough. Gradually add remaining flour.
Turn dough out onto a lightly floured surface. Knead until smooth and elastic (about 2 minutes). Place dough in a large bowl coated with cooking spray, turning to coat top. Cover and let rise in a warm place (85°), free from drafts, 35 minutes or until doubled in size. (Press two fingers into dough. If indentation remains, the dough has risen enough.)
Punch dough down; place on a lightly floured surface. Knead about 10 times; roll into a 12 x 7-inch rectangle. Roll up rectangle tightly, starting with a short side, pressing firmly to eliminate air pockets; pinch seam and ends to seal. Place roll, seam side down, in an 8 x 4-inch loaf pan coated with cooking spray. Cover; let rise 35 minutes or until doubled in size.
Preheat oven to 375°.
Uncover dough. Bake at 375° for 35 minutes or until loaf is browned and sounds hollow when tapped. Remove from pan; cool on a wire rack.