Is Oracle Linux feasible for a desktop enviroment or is it strictly server oriented?
Oracle Linux is based upon RHEL (Red Hat Enterprise Linux). It can be used either as a server or as a desktop, as a compatible alternative to RHEL.
As for a desktop, if you're looking for bleeding-edge packages (GNOME 3, recent versions of KDE, etc...), you will not find them in in Oracle Linux or any RHEL clone (CentOS, Scientific Linux etc...).
As usual it depends on what you are looking for or what you consider feasible.
Yes RHEL and all of it's derivatives can be used as a desktop distribution, they do contain the graphical environment and a choice of Gnome and KDE desktops. I believe even XFCE is included in the main repository but I'm not 100% sure about that.
But as @renan pointed out, RHEL is aimed at business customers who want stability more than the latest new features so you will not find the most recent editions of the desktop environments.
I don't know if Oracle builds and supports these variants as well. But your sales-rep will be happy to tell you. :)