I would say no. There is some room for interpretation, but even if you count it as "boiling", then it is not the same way as water does.
First, oil is not a pure chemical compound, it is a mixture of fatty acids and other stuff extracted from the plant. Even you could define one exact mixture as "oil" and it were "boilable", you still probably wouldn't have a strictly defined boiling point. "Probably", because some mixtures do have a boiling point (as opposed to a temperature range in which they boil) - I am not enough of a chemist to know which have a point and which a range.
Second, oil is not even a well defined mixture. It varies from bottle to bottle. So some oils would have a different behavior during "boiling" than others.
Third, when water boils, you can condense it and it becomes water again. It just undergoes a phase change at its boiling point, no further changes. But for oil, this is not true. While still in liquid state, heating causes it to undergo pyrolysis and other changes - you see it smoking when you heat the pan, it polymerizes if thin enough (that's how you season iron pans), etc. So whatever mixture it was before heating, it is not the same mixture when it reaches its boiling temperature range, it has changed chemically. So if you can heat it to a temperature at which it does turn from liquid to gas (and it doesn't completely burn away, or polymerize into a lump, etc.), then condense it, whatever you condensed won't be the same thing you started out with. It is much more than just a phase change.
I guess people can still make the case that there is some temperature range at which whatever you have in your vessel (which is no longer the oil you started out with) could turn from a liquid to a gas, and this should be described as "the oil is boiling". So I am not saying a firm, emphatic no. But as you see, even if you find the use of the label "boiling" acceptable, it is actually very different from what most people think of when they think of boiling, or from how water boils.