Madrid rebounded from its last away loss at Real Betis with a valuable three points that provisionally cut the gap with Barcelona to eight points before the league leader's tough visit on Sunday to the Seville-based side.
Jose Mourinho's star-studded squad struggled to overcome two first-half goals by Manucho, who dominated both areas in attack and with his defensive help on set-pieces.
Karim Benzema and Oezil scored to pull Madrid even after Manucho had put Valladolid ahead twice to end the first half 2-2.
Oezil then curled an unstoppable free kick off the underside of the crossbar to get the win in the 72nd minute.
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