The official (Bethesda-released) patches are documented at Patch the official patches include some fixes that for technical reasons (e.g., altering the game's executable) cannot be incorporated into the unofficial patches. Note that these patches are all unofficial. Should you want to help point out such a fix, please use the templates to do so. The major fixes are being gradually added to UESP. These fixes range in importance from trees that seem to float in the air up to conflicts that could cause the game to crash.
The Unofficial Oblivion Patch, Unofficial Shivering Isles Patch and Unofficial Oblivion DLC Patches are major mods by Quarn and Kivan that fix over 1,800 bugs (and 70,000 object placement errors) left over even after the latest official patch is applied.