Preheat oven to 350F (175C) and line a 12-count muffin tin with paper liners. Set aside.

Place butter in a large mixing bowl (or the bowl of your stand mixer fitted with the paddle attachment) and use an electric mixer to beat the butter until smooth and creamy.

Add sugar and oil and beat until creamy and well-combined.

Add vanilla and almond extract and stir until combined.

In a separate, medium-sized mixing bowl, whisk together cake flour, baking powder, baking soda, and salt.

Add a portion (about a third) of the flour mixture to the butter/sugar mixture and use a spatula to gently fold into the batter until just combined. Add about half of the buttermilk and fold again using a spatula. Repeat, gently mixing by hand until all of the flour mixture and buttermilk have been added and the batter is just combined.

In a separate mixing bowl (see note), use an electric mixer to beat egg whites on low-speed, gradually increase to high speed and continue to beat until stiff peaks form (batter will be thick, voluminous, fluffy, and the peak that forms when you remove the beater from the mixture will hold its shape and not fold in on itself).

Use a spatula to gently fold the egg whites into your batter. Be sure to scrape the sides and bottom of the bowl so all ingredients are thoroughly combined, but take care to not over-mix.

Evenly divide the batter into the prepared cupcake tin, filling not more than 3/4 of the way full.

Bake in center rack of 350F (175C) preheated oven for 17 minutes, or until a toothpick inserted in the center comes out mostly clean or with a few moist crumbs.

Allow cupcakes to cool completely before decorating with frosting (I used my vanilla buttercream frosting).