The oilpot is an essential tool for precision woodworking.
I first learned this fact while living in Japan when I was called a fool by a joiner for not having one in my tool kit. I won't bore you with that embarrassing story, but a quick tutorial on oilpots as I understand them may be useful.
In Japan, oilpots are used by nearly every woodworking professional. They are typically made of bamboo, which is abundant here. But wood works well too, as do plastic bottles. Don't use metal or glass since these materials will dull your edged tools if you hit the container's lip by mistake. Murphy rules triumphant.
If you use bamboo, simply cut a segment, as in the photo, creating a cup. True up the bottom, or foot, as they call it in pottery, so the segment will stand straight and without rocking. Chamfer the edges. You want to keep the waterproof membrane inside the segment intact, so don't sand the inside.
If you use a wood block, I suggest you orient the grain horizontally to reduce the forces of gravity causing the oil to migrate down through the xylem and seep out onto your workbench.
White oak is a good choice due to the tylosis structures that close off and seal the xylem tubes making white oak waterproof and consequently the wood of choice for making barrels and warships for thousands of years. Any coopers or ship builders reading this may have alternate suggestions.
Cut and or drill a blind hole in the wood block sized to tightly contain the wick material. You may also want to make a matching lid at the same time.
Don't forget that plants, including bamboo and oak, are solar-powered waterpumps. Whether wood or bamboo, you need to seal the xylem tubes to minimize oil seepage. A good quality urethane or polyurethane will work well. I suggest applying 2 or 3 coats of colored product, containing lots of solids, on the inside surfaces of the cavity. After the urethane has dried, wrap the inside of the cavity with a single or double sheet of aluminum foil, with the foil extending out over the edge, for additional seepage protection. Be careful to not tear the aluminum when placing it.
The wick will contain the oil. An old but clean piece of cotton T-shirt material will work well. Don't use a cloth that will produce a lot of lint particles.
You need to experiment rolling up this material, tying it with a string, and inserting it tightly into the cavity. Add or remove material, or change your rolling technique, until you get it right. Size it so 1/4" - 3/8" or so is projecting past the lip of the cavity. This is critical. If it falls a bit short, you can place some cotton scraps in the cavity's bottom to lift the wick higher.
Stuff the wick into the cavity, cut off the protruding aluminum foil, add your oil of choice, and voila!
When I made my first oil pot over 30 years ago, I was told to use vegetable oil. Guess what... veggie oil goes bad and becomes stinky in a few weeks, and hard in a few months. Back in the States, I used Olde English Lemon furniture polish, which is just mineral oil with coloring and scent added. This worked well, but was unjustifiably expensive. For many years I have used various brands of 5w synthetic motor oil. Mobile 1 has the nicest smell, IMO. No need to spend a lot of money on this oil, but you want something that is very stable, is a great lubricant, and is sticky. Synthetic motor oil meets the bill and can be procured anywhere at a reasonable price. Your mileage may vary.
The exposed end of the wick will become dirty with sawdust over time. Clean it by brushing with a steel bristle brush. The same one you use to clean your rough lumber before planing will do. You are in the habit of scrubbing rough lumber with a steel brush to remove embedded grit before planing it, aren't you?
I keep my oil pot in a metal can when not in use to keep it clean, and to prevent it from accidentally oiling the inside of my toolchest. A plastic bottle or even a plastic bag will work just as well.
I always have my oil pot sitting close at hand on my bench top or perched on the beam/column I am working on. Besides wiping my marking knife and marking gauge cutters on the wick, I frequently stab my chisels into it to reduce friction in the cut and improve control/precision. You will find that a dab of oil on your blades will reduce the tendency of the wood's grain to drag and misdirect them.
When cutting joints with a saw, I pick up the oil pot (it's sized for my hand) and wipe the wick on the blade frequently. Once again, less friction, and better control. Especially when cutting resinous softwoods or tropical hardwoods.
I also wipe the blades and soles of both my wooden and steel bodied planes on the oilpot's wick to reduce friction during the cut, and wear on my soles. It makes a big difference. Try an occasional dab on the leading edge of the chip breaker/cap iron too. It makes the shavings flow better with less back-pressure. When I first experimented with synthetic motor oil, I was concerned it would soften or damage the soles of my wooden planes over time. It has not. Of course, I don't slop it on.
When shooting, a bit of oil from my oilpot on the plane's side and sole makes a big difference. Give it a try, and you will wonder why you hadn't used oil before.
Before putting my tools away at the end of the day, I quickly wipe their blades on my oilpot's wick to prevent rust. What could be more convenient?
The oilpot in the photos below is 85mm tall x 75mm diameter, and is sized to fit my hand. I have used it for 6 years. The wick is the original one, and is only half as long as it was when new, but is still perfectly functional. The orange paint is a natural urethane called cashew, made from the sap of the cashew nut tree. It is used a lot in Japan as a substitute for urushi (natural lacquer). I used this gaudy color so it is readily identifiable as mine.
Stan
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