I believe the Oil represents the Holy Spirit which gives Christians the inspiration that allows them to shine the Light of the truth that emanates from lamps that have oil..
The lamps to me represent belief in God.. People can and do believe in God without having accepted the Gospel truth.
So the unwise virgins represent religious people who do not have the Holy Spirit because they do not believe in the Gospel of Grace.. They believed in another gospel like the works salvation gospel..
When the Bridegroom arrived represents the second coming of the LORD Jesus Christ.. And
When the 5 Wise virgins go into the wedding feast and the door is closed represent the rapture when the LORD will send out His angels to gather up the Saints to be with Him..
When the unwise virgins approach and cry LORD LORD let us in this represents the Day of Judgement when these religious people will find out that they never accepted the true Gospel that saves and they will find out that their many wonderful works mean nothing to the LORD..
It is clear to me that the Parable and the following scripture are linked..
Matthew 7: KJV
22 "Many will say to me in that day, Lord, Lord, have we not prophesied in thy name? and in thy name have cast out devils? and in thy name done many wonderful works? {23} And then will I profess unto them, I never knew you: depart from me, ye that work iniquity."
From the parable:
Matthew 25: KJV
11 "Afterward came also the other virgins, saying, Lord, Lord, open to us. {12} But he answered and said, Verily I say unto you, I know you not."