Heat oven to 350°, spray 2 cupcake pans with spray oil and fill each cupcake slot with a paper cupcake liner.
Whip egg whites into firm peaks using the stand mixer with the whisk attachment. Scrape the bowl and set aside.
Using the paddle attachment, whip the softened butter for 5 minutes, until it has become white. Add the sugar and whip until light and fluffy. Scrape the bowl and add oil, vanilla and almond extract. mix until fully combined.
In a separate bowl mix flour, baking powder, baking soda and salt. Mix half into the butter mixture until combined. Mix in half of the buttermilk, the second half of the flour, then the rest of the buttermilk, scraping the bowl in between each addition. Fold in the whipped egg whites.
Spoon the cupcake batter evenly amongst the 24 cupcake cups, then bake for 15-18 minutes until a toothpick comes out clean. Transfer to a cooling rack and allow to completly cool to room temperature before decorating.