The Oilers have signed Yakupov to a two-year contract extension, with a reported average annual value of $2.5 million, the Edmonton Sun reports.

The Oilers have signed Yakupov to a two-year contract extension, with a reported average annual value of $2.5 million, the Edmonton Sun reports.

Analysis:

The 21-year-old -- who was the first pick overall in the 2012 NHL Draft -- is coming off a season in which he recorded a career-high 33 points (including 14 goals) in 81 games. While his extension won't necessarily keep him with the Oilers for the long haul, Yakupov will at least have a couple more seasons in which to continue to develop with the team's young core, which also currently includes the likes of Ryan Nugent-Hopkins, Jordan Eberle, Taylor Hall and Justin Schultz.