You're never going to get a consensus from the experts on oil, whether discussing Gran Prix cars, sport bikes or Lugers. But just to get you going I'd recommend wiping all the metal with an oily rag and putting a drop or 3 on the actual metal-on-metal friction points. Don't oil soak the grips.
We used to joke that if you had gun oil dripping from your glasses after shooting your 1911, that was just about right. But we may have been taking it too far.
dju
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