Olie is more likely a form of Ole, which this here site says is a Danish form of Olaf...but all of the "Ole and Lena" jokes you hear in the Upper Midwest seem to be about Norse, er, Norwegians rather than Danes. Go figure.
OleOle in Denmark & Norway can be a form of Old Norse Olaf or Ále Ole/Ohle is even a Low German form of Old German names beginning with Od- or Ul- or Adal- (used in the north or Germany) Satu