The bible has a bunch of different references to oil, as it was used a lamp fuel(and some rituals).
This one refers to Revelation 6:6
And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.
From KJ or this one from the NIV
Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!”
Referring to how the price of food would go up, but oil and alcohol would not.