I'm going to cut to the chase,I would seriously think about re-homing your loach if the Oscars are showing aggression towards them. These fish don't deserve to be terrorised, they are very social and are one of my favourite fish. They can be susceptible to disease so you don't want to put them on too much stress.
However, you could try getting rid of one of the Oscars, this may reduce the aggression, worth a try I suppose, I would be reluctant to get rid of the clown Loach if I was in your position.