Oil is often used in the Hebrew Bible in the context of setting items as holy (Exodus 30:25–28). It was also used in ritual contexts to anoint priests and kings to serve in the presence of God. The phrase also appears in Genesis 28:18 and Genesis 35:14 in the context of worship. Together these references indicate that oil is related to the presence of the Lord, which the worshipper craves. The pouring out of the oil symbolized covenant commitment. One commentator suggests, “If fine flour represents the person and possessions of the worshipper, then oil signifies that they now were consecrated to the Lord.”1
1 “When anyone brings a grain offering as an offering to the LORD, his offering shall be of fine flour. He shall pour oil on it and put frankincense on it