The visitors played the majority of the match in Oxford’s half, although they took until the 22nd minute to show any real threat.
Koleosho, who was Burnley’s brightest spark, made a burst down the right-hand side and pulled it back to Lyle Foster who fired wide of the near post from 15 yards.
With seven minutes remaining before the interval, the ball broke to the unmarked Hountondji but he was unable to steer his effort on target.
Oxford’s first attempt, and their only effort on target, came in the 48th minute when a corner was whipped in and met at back post by Elliot Moore but his tame header was straight at the keeper.
Des Buckingham’s side created a couple of breakaways thereafter but never really looked like scoring.
Burnley missed the opportunity to go top after league leaders West Brom lost away at Sheffield Wednesday earlier in the day.
They slip to fourth, while Oxford are 11th but will certainly be the happier of the two sides.