Thames Valley Police said the suspect placed their jacket over the victim's bag and then left with both items.
Items of high value were within the bag.
Investigating officer PC Phil Morris based at Banbury police station, said: “We would like to appeal to anybody who recognises the person in this image to please get in touch as they may have vital information about this incident.
“You can get in touch by either making a report online or by calling 101, quoting reference number 43230322143.
“Alternatively, for 100 per cent anonymity, you can also call the independent charity Crimestoppers on 0800 555 111.”
