Combine first 4 ingredients in a medium bowl.
Beat butter at medium speed with an electric mixer until creamy; gradually add sugars, beating well. Beat in egg and orange flavoring just until combined. Add flour mixture and oats; stir until blended. Stir in white chocolate and raisins. Cover and chill dough 1 hour, if desired.
Line 2 large baking sheets with parchment paper. Drop batter by heaping tablespoonfuls, 3" apart, onto prepared baking sheets.
Bake at 350° for 13 to 15 minutes or until lightly browned. Cool on baking sheets 5 minutes. Transfer cookies to wire racks to cool completely.
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