NO! Oil royalties from mineral extraction of the rights you own,are considered passive sources of income.
Compensation, or earned income, is required to make a traditional and/or Roth IRA regular contribution.
Any amount “derived from or received as earnings or profits from
property” heads the list of income not recognized as compensation for
IRA purposes. This includes interest, dividends on stock, rental income,
royalties, or gains received when property is sold (long- or short-term
capital gains).
