Green’s Dictionary of Slang

well-oiled adj.

[SE well + oil up under oil v.]

very drunk.

[UK]Hull Dly Mail 2 Dec. 3/7: Very Well Oiled [...] he was neverthel;ess fined 5s, which the ‘well-oiled’ gentleman, if he had any gratitude [...] will at once pay up.
[UK]A. Binstead Gal’s Gossip 169: He was certainly well ‘oiled.’.
[Aus]C.H. Thorp Handful of Ausseys 162: Spending leave will often necessitate their getting ‘well-oiled’ in some public house.
[UK]P. Marks Plastic Age 251: Cynthia had assured him that she would dance until doomsday if he kept her ‘well oiled with hooch.’.
[UK]Wodehouse Right Ho, Jeeves 245: What he had omitted to mention was that I had invariably been well-oiled at the time.
[Ire]‘Myles na gCopaleen’ Best of Myles (1968) 338: Drunk; jarred; [...] oiled; well-oiled.
[UK]P. Wright Cockney Dialect and Sl. 91: He becomes [...] sozzled or well-oiled.
[UK]Guardian Guide 25–31 July 16: A well-oiled Bruce Robinson, writer and director of Withnail & I.
[Aus]S. Maloney Big Ask 40: All six were in their mid-twenties, well oiled and kicking on.