Preheat the oven to 350°F.
In the bowl of a stand mixer or with an electric hand mixer, combine the melted butter, canola oil, and granulated sugar until well combined.
While slowly mixing, add the sour cream. Mix until completely combined. Then add one egg at a time, allowing the mixture to combine before adding the next egg.
Once all of the eggs are added, add the lemon juice, lemon oil and the lemon zest. Mix well.
Next, add the all-purpose flour, baking soda, baking powder and salt to the bowl. Begin to mix.
Once the dry ingredients are about halfway mixed in, slowly add in the milk and mix until everything is well combined.
Spray a bundt pan with non-stick spray and sprinkle flour into the pan to help the cake not stick.
Pour the finished batter into the prepared bundt pan.
Bake at 350°F for 50-60 minutes or until the cake is golden brown and a toothpick comes out with just a few moist crumbs on it.
Allow the cake to cool for 10 minutes before flipping it out onto a cooling rack.
Once the cake is cool, make the cream cheese frosting by creaming together the cream cheese and butter on high for 10 minutes.
Add the powdered sugar and mix well.
Once mixed, stir in the clear vanilla and transfer the frosting to a piping bag.
Pipe stripes of the frosting starting on the outside of the bundt cake and working your way to the center. Repeat around the entire cake.
Use an offset spatula to smooth the frosting in the center of the bundt cake.
Serve and enjoy! Store in the fridge for up to 4 days.