A bad oil burning smell is usually valve cover gasket because the oil drips down onto the exhaust manifold..
BUT.. When you drive the car at higher speeds the wind under the car can blow the dripping oil all over the place. So with that said, it could be anything. Oil pan, oil filter housing, rear main seal, front crank seal, CCV, etc..
The best way to locate an engine oil leak is use brake cleaner all over to clean off ALL the oil under the engine, then put an ounce of leak dye into the oil fill hole. Drive the car for a day or so. Then lift the car up and use an Ultraviolet lamp and some yellow tinted glasses. The source should be real obvious at that point because the dye will have seeped out from where the leak is.
As stated above, it could also be the power steering system. The pump itself and/or the lines could be leaking.