It seems that you are developing androgenic alopecia a very common hair problem in males. You need to apply minoxidil 5% 1ml twice daily over dry and clean scalp. Hair oil does not effect hair growth rate but you should stop oiling if you are applying minoxidil as oil can effect its penetration. But there are few points you should understand for minoxidil therapy:
You will improvement only after 3-4months, initially there may be increase in hair fall but don stop medication. You need to apply minoxidil regularly. The effct is temporary so once you stop applying it hair fall will again start so if you want to keep your hair life long you need to apply minoxidil regularly. It is a very safe drug and you can use it life long so dont worry.
Warm wishes Dr Prakash Khute