Office of Steam Forum for Model & Toy Steam Gas & Hot Air Engines

So you are just using it as a journal and bearing oil, and it should work fine in that application, though most any common oil, like 3 in 1 would do the job as well. The port faces and pivot for your oscillator would likely benefit from a drop of steam oil, providing a slightly better seal and reduce wear on those critical surfaces. But there are many a small oscillator that have run their whole lives sans any significant lubricant, and still run to this day.