On most units the oil furnace motor is dry and clean, well lubed and factory sealed, in which case you do not have to worry about this type of maintenance. However, on other models there are visible oil ports on the motor, above the bearings near the motor shaft itself, you will need to lubricate during your annual furnace check.
Step 1 - Remove the Flash or Maintenance Plate
Locate the access panel of your furnace and remove it using your wrench to reveal the oil furnace motor. Inside you should see the oil ports near the shaft of the unit, they will either be cups with caps, or simple funnel ports.
Step 2 - Add the Oil Lubricant
If they are funnel type ports on your oil furnace motor, put in several drops of oil to each one during your yearly maintenance. This will keep the motor running cool and smoothly throughout the furnace season without the danger of burning it out. Do not over lubricate.
Step 3 - Check the Blower and Belts
While you are servicing the oil furnace motor, check the blower unit as well. Check for worn belts, and also for grease traps or oil funnels on its housing and apply lubricant as needed. If they are capped grease traps, add bearing lubricant.