Great minds think alike!
But to answer your question, this has been studied a great deal. This explains it very well, from the article I linked above:
Oral sex, the teenagers said, was less risky than v (abbreviated for this site, but full text can be read in link above) sex, considering the health, social, and emotional consequences. They also thought oral sex was more acceptable than v sex for people of their age and was less of a threat to their values and beliefs. They felt that more teenagers will have oral sex and wait to have v sex until they are married.
"Adolescents in this study believed that they are less likely to get a bad reputation, get into trouble, feel bad about themselves, or feel guilty from having oral as compared with v sex...and [that it is] less of a threat to one's relationship with one's partner," the authors wrote.
However, the teenagers underestimated the risk of contracting chlamydia or HIV through oral sex. The authors write that, although low, the risk is not zero, as some adolescents believe.