Printed in Amsterdam in 1722 and dedicated to Duke Massimiliano Emanvele, this is considered to be Albinoni's finest oboe concerto.

The first movement, "Allegro e non Presto," opens with an energetic 20-measure theme in 2/4 time, with a skipping accented upbeat (on the two and) infused with flashing swift runs. This pattern turns into a dotted 16th plus 32nd skipping figure. The oboe enters with the repetition of the theme, which is identical to that previously heard except for the last two measures, which stretch the melody by far wider intervals.

The first part of the theme begins again, but the oboe attains greater independence from the strings and becomes the leading melodic instrument as the progression develops into a beautiful bridge made of basic non-modulating chords in the relative major (F major).

The strings enter sans oboe to execute a brief modulating passage. A secondary theme, actually a variation on the main theme that begins with a descent rather than an ascending figure, is introduced at measure 60. The oboe soon moves away from rhythmic unison with the strings, producing variations on the skipping dotted 16th-32nd note pattern while the strings compliment this glorious counterpoint with steady eighths interspersed with flashing runs or sustained notes when the oboe is playing faster passages. The harmonic modulations to the sub-dominant key are beautifully handled.

After a brief string bridge, the oboe and strings echo each other with variations on the figure built from eighths and flashy 32nd-note runs. The transition back to the main theme is gracefully handled and its entrance is quite unexpected.

The previous oboe/strings counterpoint is repeated and, at measure 140, another variation is introduced which also extends the chromaticism that was only implied before (D minor, D-seventh, G minor, B flat major, E major, A major, C sharp diminished seventh, E seventh, A major, D minor, E flat major, D minor, etc.), a bravura compositional move at the very end of the movement.

The second movement, "Adagio," is most unusual and exquisitely beautiful. The strings open with the first violins executing 16th-note arpeggios while the second violins, violas, and continuo move in pulsating eighth notes, but all of this contains only an implied melody and is more of an orchestrated accompaniment. The oboe enters with very slow sustained notes over five measures, only the germ of a melody. The oboe is silent for four measures, then it repeats the previous five-measure pattern and suddenly blossoms into a marvelous extended melody over the next 20 measures. After a brief rest, the oboe repeats the simple five-measure phrase with the sustained tones. A very touching coda follows, with the oboe in slow arpeggios against the faster violins and a repeat of the implied melody.

The concluding "Allegro" in a joyously rolling 6/8 time, features splendid canonic imitation between the oboe soloist and the upper strings.

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