No. They are two different products.
The main difference between the two is the method of extracting CBD. For oil, manufacturers use carbon dioxide, but for tinctures, they utilize alcohol.
Through these different extraction methods, manufacturers end up with slightly different products: CBD oil contains CBD suspended in a carrier oil, while tinctures are typically glycerin- or alcohol-based solutions.
Generally, CBD oils will also contain a higher potency of CBD, but tinctures will have a longer shelf life.
Additionally, people can use CBD oil orally or topically, but it is not advisable to use tinctures on the skin as it will not be as effective and may irritate the skin.
In addition, a person can add CBD oils and tinctures to food and beverages. However, it is not advisable to do this with CBD oils, as it will likely not mix well, while some CBD oils may leave an unpleasant oily taste. However, water-soluble tinctures typically mix well in food and drink.