Meaning

noun a slippery or viscous liquid or liquefiable substance not miscible with water

verb cover with oil, as if by rubbing

noun oil paint containing pigment that is used by an artist

originFrom Middle English oyle, oile (“olive oil”), borrowed from Anglo-Norman olie, from Latin oleum (“oil, olive oil”), from Ancient Greek ἔλαιον (élaion, “olive oil”), from ἐλαία (elaía, “olive”). Compare Proto-Slavic *lojь. More at olive. Doublet of oleum. Supplanted Middle English ele (“oil”), from Old English ele (“oil”), also from Latin.

Etymology from Wiktionary, CC BY-SA 3.0