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It's not true. The main reason are of course all those weapons of mass destruction iraq had. Just kidding, everybody knows that was just made up

But seriously, oil is probably by far the the biggest reason, as it was the case with the Afghanistan war. Afghanistan has no relevant oil resources, but Afghanistan was by far the best way to install a pipeline for transporting oil and gas from the very resource-rich countries Turkmenistan, Uzbekistan, Azerbaijan etc.

But there are always other reasons as well. For example, one very important advantage for the US is that they now have military bases right in the heart of the middle east. In the end that has much to do with oil as well, but oil is simply not the only reason.