Preheat oven to 350 degrees F. Line 2 cupcake pans with paper liners.
In a large bowl, add in the 1/2 cup salted butter, 3 tablespoon vegetable oil, 1 cup light brown sugar, and 1/2 cup granulated sugar. Beat with a hand mixer on medium until creamed. Scrape down the sides of the bowl.
Add in the 1 teaspoon vanilla extract. Next, add in the 3 large eggs, one at a time, and beat until each egg is completely incorporated. Scrape down the sides of the bowl after each egg.
Add in the 15 ounces pumpkin puree and beat until incorporated.
In a separate bowl, add in 1 1/2 teaspoons pumpkin pie spice, 1 teaspoon ground cinnamon, 1/4 teaspoon ground cloves, 1/4 teaspoons ground ginger, 1/2 teaspoon baking soda, 2 teaspoon baking powder, and 1 1/2 cups all-purpose flour. Whisk until combined.
Add in the dry ingredients in with the wet and beat on low just until the flour is worked into the batter.
Fill each cupcake liner about 3/4 full of batter.
Place into the oven for 20 - 25 minutes or until done. Place a toothpick into the center of the cupcake and if it comes out clean or with a few moist crumbs, it's done!
Let cool in the pan for 10 minutes and let them finish cooling on a cooling rack.
Frosting
In a large bowl, add in the 8 ounces cream cheese and 1 cup butter. Beat with a hand mixer on medium until creamy.
Add in the 5 cups powdered sugar and 5 to 6 tablespoons whole milk. Beat until incorporated. Scrape down the sides of the bowl and beat in any unmixed bits.
Add the frosting into a piping bag with a straight tip and pipe swirls on the cooled cupcakes.
Notes
Storage: Store in an airtight container in the fridge for up to 5 days.