In a mixing bowl, beat the softened cream cheese with an electric mixer or whisk until smooth.
Gradually add the powdered sugar and vanilla extract, mixing until combined and creamy.
Gently fold in the mashed raspberries and graham cracker crumbs until well incorporated.
Using a cookie scoop or tablespoon, portion out the mixture and roll into balls. Place them on a baking sheet lined with parchment paper.
Freeze the cheesecake balls for about 60 minutes, or until firm.
While the balls are freezing, melt the white chocolate. You can do this in a double boiler over simmering water or in the microwave in 30-second intervals, stirring in between, until smooth.
If the chocolate is too thick, stir in the vegetable oil to thin it out.
Once the cheesecake balls are firm, dip each ball into the melted white chocolate using a fork or toothpick, making sure to coat them thoroughly.
Allow the excess chocolate to drip off before placing them back on the baking sheet.
Place the coated cheesecake balls back in the refrigerator to set for about 30 minutes.