Heat oven to 425° F. Combine the butter, caraway seeds, lemon juice, and 1 teaspoon each salt and pepper in a medium bowl until well blended.
Arrange the turkey on a rack set over a baking sheet. Using your fingertips, carefully loosen the skin from the breast, starting at the neck end. Spread the caraway butter under the skin and over the breast in an even layer. Rub the oil all over the skin and season with 1 teaspoon salt. Roast for 30 minutes, until golden. Reduce temperature to 350° F and roast for about 2 hours, basting twice and tenting with foil if the turkey gets too dark, until an instant-read thermometer inserted in the center of the breast registers 165° F. Transfer to a cutting board and let stand for 30 minutes. Carve the turkey and serve with gravy.
Make Ahead: Rub the breast with the caraway butter up to 1 day before roasting. Leave uncovered in the refrigerator. Bring to room temperature 1 hour before roasting.
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