Possibly, but not typical. Usually the oil around the plugs (I assume you mean the outer part of the plugs rather than the tips) causes sputtering but I suppose it can get bad enough to prevent starting. The oil comes from leaking tube seals, which are a part of the valve cover gasket set. Clean the plugs (when you remove them the oil will drain harmlessly into the cylinders) and see what happens.
More often the problem is fuel delivery. You can try a spray of starting fluid in the intake to see if fuel is not being injected and go from there.
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