Are you asking about motor oil or vegetable oil? Because the answer will be really different.
Vegetable oil is reasonably stable at low pH, but gets hydrolyzed at high pH. That’s literally how soap is made: treat a triglyceride (bio-based oil or fat) with high pH water.
Petroleum oils don’t have any significant pH catalyzed chemistry.
In either case, it’s not meaningful to talk about pH unless there’s water present.
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