It sure would!
Short of measuring the quantity oil before and after frying, I can't think of anything. That would be easiest when shallow frying. I have measured fat run-off from meat by the tablespoonful and deducted that.

I make shallow fried pakoras sometimes. I need to figure out how much oil they absorb on average too. For things like crepes I just spray the pan with oil and count that in my daily totals. Sometimes I 'fry' onions in a non-stick pan without any fat at all!
It is a concern to people like myself who need to keep tight control of calories in order to lose.