Oil is a Normal Spell Card.
Spell Cards are usually activated from the hand on your turn unless their type gives another timing window.
On the current TCG and OCG Forbidden & Limited lists tracked here, Oil is Unlimited.
YGOPRODeck lists Oil for these formats: TCG, OCG, Master Duel.
A listed print of Oil appears in Battles of Legend: Terminal Revenge (BLTR-EN026) at Secret Rare rarity.
Among markets shown on this page, the lowest listed snapshot for Oil is about $0.97 on Cardmarket (prices change frequently).
