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This paper presents a technique for automated design and optimization of low-noise oscillators. A sensitivity analysis for oscillators guides the reduction of oscillator noise intensities and improvement of oscillator's immunity to noise. A design-oriented approach to circuit analysis efficiently handles design constraints and reduces the dimensionality of the optimization problem. The perturbation projection vector based phase noise computation makes the proposed optimization technique general and applicable to all types of oscillators, independent of circuit topology. Several examples illustrate the benefits of the new optimization approach.