Yes, oft is in the scrabble dictionary

...and is worth 6 points by itself.

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Oft Definition

adverb

Often. Often used in combination: his oft-expressed philosophy; oft-repeated tales.
from The American Heritage Dictionary of the English Language, 4th Edition

residual

(in the UK) Office of Fair Trading.
from Free Scrabble Dictionary

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Top Words by points

Points

oft

6

2 letter words with OFT

Points

of

5

to

2

3 letter words with OFT

Points

oft

6

Found 3 words in 0.13771 seconds