He's TOO obsessed with the toys, for sure (as you stated). Obsession can be a dangerous thing.
"I can't let him continue barking for long; so, more often than not, I give in."
You giving in when he barks has taught him that barking = get what I want. If you do it once, you've already made the problem worse, but if you continue to keep giving in, he has just learned that "Oh, all I have to do is bark and I get what I want!" It's much like a child who throws a temper tantrum in the store, and the parent gives in out of embarrassment and buys what they want, the child learns throwing temper tantrums if the way to rule their parents. Most parents eventually put their food down, let them throw their fit and say NO. Dogs, like children, need discipline.
It sounds like Oliver believes he OWNS those toys... you need to make it clear that, yes, the toys are for him to
play with but they are YOUR toys. You bought them, you own them, you can give them to him, and you can take them away from him. Claim the toy... I would start with making him
work for the toys. Nothing in Life is Free (NILIF program) is a great way to start. He doesn't get the toy until is in a totally calm state of mind (this is important) and sitting. Often times, people tell a dog to 'sit' and then they give them the food or toy... but sitting doesn't mean a dog is calm. Wait until they are totally calm before giving in. This can be transferred into parts of his every day life... he has to sit calmly before each meal, before going out for a walk, etc.
Dogs, like people, often need a job to do or they will get bored... they need just as much mental stimulation as physical. Use his extreme focus on toys for something
good -- you can train him tricks using his toy as a treat! Toys would be a HUGE reward for him. Most dogs only work for treats but I think it's wonderful if you have a toy motivated dog.
Basically, to me, it sounds as if Oliver totally rules the roost and thinks he is the boss, when in reality, it should be the other way around. Start asserting yourself as his pack leader (OK, now I'm going all Dog Whisperer on you! If you haven't seen it, tune in to National Geographic channel). Clearly he doesn't respect you right now and he's bossing you around (barking at you when not paying attention to him, getting his way all the time, etc). It's time to take control

Also- for barking, pennies in a can have worked for a lot of ppl. Just fill an empty soda can with coins, shake it and say 'quiet' everytime he barks. Or a squirt bottle with water. OR there's a bark repeller you can buy on amazon that everyone seems to be raving about!
He just needs to learn he's not he boss, and he doesn't own all the toys in the world. I hope this helps a little bit-- I'm NO professional but I do a lot of online 'research' as well as watching a lot of dog programs on tv (Dog Whisperer, Dogtown, It's Me or the Dog). You can really learn alot from them

Exercise, discipline, affection... in THAT order!