Thats a 445nm laser, and being used in the most dangerous way possible.
First, assuming he is wearing safety glasses, they need to be VERY SPECIFIC safety glasses that filter out the 445nm wavelength..... I cant tell the wattage of the laser, looks around 200mW or so. That's enough that about 1 second of an exposure to that laser light (even if reflected!) would permanently blind you -- permanently. Really, like forever.
I have a 445nm laser, the Wicked Laser Arctic 1000mW or 1 Watt laser. Its has a visible beam of about 7000 meters (4.5 miles) in the dark. They now make one called the Krypton in a green color (different nm wavelength) with an 85 mile beam. 20 miles further out than Earths atmosphere. You can buy it for $300 direct from the manufacturer. I've had my Arctic since they shipped the original versions.
The laser itself isnt purging the oil, he's really just using it to pop bubbles. 445nm lasers are intense enough to light matches, burn through wallets, and even pop the strings on the video arcade machines that hold the PSP3's in the air instead of paying the dollar to try and use the games knife.
And, of course, to blind you. Since the oil he's got is dark in color, it's able to pop the bubbles. If he had better oil it'd have a harder time. You cant burn a hole through light or white objects easily (or at all) with handheld lasers......
I think its neat for show, but functional-wise................................no idea.