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No it will not reset.
I believe the rate that it goes down is based on the fuel metering (it's judgement on how hard the car is being driven), but there aren't any sensors to tell it the oil has been replaced or the 'quality' of the oil has been improved.
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'17 M3 Imola Red/Carbonstructure Cloth, Competition, Lighting, 6MT
Retired: '93 325i |'99 Jeep Wrangler Sport |'06 330i Sport |'08 335i Sport |'08 328i Sport |'09 335d Sport
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