Shockingly, no! No truffle oil, the world over, is made from real truffles. All ‘truffle oil’ is chemically scented with the addition of chemical 2,4-dithiapentane. This single artificial chemical has an aroma that mimics (to an extent) the 300+ aromas found in actual truffles.
Truffle oil cannot be fragranced with the scent of real truffles for the simple reason that truffles can’t impart their aroma into oil (regardless of what kind of oil). And while there are oils infused with genuine truffle shavings, these are just for show —a visual selling point.
In the U.S. it is even legal to use the words ‘organic’ and ‘natural’ in front of the words ‘truffle oil’, which has led to a class action lawsuit.