oil
noun [ U ]
uk/ɔɪl/ us NATURAL RESOURCES
a thick liquid that comes from under the Earth's surface and is used as a fuel and for making plastics, etc.:
More than 6,000 rigs were drilling for oil and gas.
The oil price increase is a genuine concern.
The oil exporting countries might not be able to meet rising world consumption.
oil
verb [ T ]
uk/ɔɪl/ usto put oil on something, especially a machine, to make it work more easily without sticking:
You may need to oil the wheels and joints.
oil the wheels informal ( US grease the wheels)
to make it easier for something to happen, especially in business or politics:
The new proposal will oil the wheels of deal-making by ensuring that the negotiations get off to a quicker start.