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Oiler party? I must be missing something

No idea what the joke is; do you have to be a native speaker of English to understand it?

I'm a native English speaker and I don't get it either.

Nope, you have to be that guy to understand it.

There's a few slang definitions for "Oiler" on Urban Dictionary, but I've never heard any of them except the hockey team mascot.

It's a joke about strippers.

I can foresee American obesity going up when every day is π day ...