"OFICIAL" is the Spanish spelling. Here is a Mexico O55 from 1900 with a similar (but not identical) overprint.
The font is different but that doesn't prove anything one way or the other.
There was a lot of interesting cross-border activity between US and Mexico in the early 20th century, so there is some possibility of it being a genuine usage.
Here is a dual-usage cover (not mine) with the same US stamp design as yours, together with Mexican postage as well. PF Cert 374713 submitted by Belasco "It is a Genuine Usage".
Also during the 1914 Veracruz USA occupation there are examples of US postage mailed from Mexico as well as Mexican stamps with U.S.M. postmarks.
I admit none of these examples relate directly to your Oficial overprint, just interesting cross-border synergies. Perhaps it is a makeshift overprint, or perhaps it was just someone having fun. I am not an expert in the area so I can't speculate which it is.
Good point GeoffHa about checking if the overprint is on top of the cancellation, if you can tell.
Update: drkohler's message came in right before I sent my reply and I didn't see it earlier. I was responding to the original post, I was not trying to refute the statement that "There are no US stamps overprinted with the Spanish version "Oficial".