Etymology
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oily (adj.)

"resembling oil, having the qualities of oil," late 14c., oilei, from oil (n.) + -y (2). Figurative meaning "smooth, unctuous" is from 1590s. Related: Oilily; oiliness.

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Definitions of oily

oily (adj.)
containing an unusual amount of grease or oil;
oily fried potatoes
Synonyms: greasy / sebaceous / oleaginous
oily (adj.)
unpleasantly and excessively suave or ingratiating in manner or speech;
an oily sycophantic press agent
oily (adj.)
coated or covered with oil;
oily puddles in the streets
oily (adj.)
smeared or soiled with grease or oil;
get rid of rubbish and oily rags
Synonyms: greasy
From wordnet.princeton.edu