Is API3 an Oracle?

Could you please clarify if API3 can be considered an Oracle in the cryptocurrency and blockchain ecosystem? I understand that Oracles play a crucial role in connecting real-world data to smart contracts, but how does API3 fit into this picture? Does it provide a similar service, allowing for secure and reliable data feeds from various sources? Or is it perhaps a platform that facilitates the creation and deployment of such Oracles? I'm eager to understand the specifics of how API3 operates and its relationship to Oracles within the broader blockchain landscape.