The act of covering oneself with oil or lube for unspeakable acts to be done.
Get oiled up luh nigga I'll be there in 5
The man with the biggest GYAT covered in oil.
Timmy: Did you see "Evan Oiled Up"?
Ken: I'd love to see "Evan Oiled Up"!
Oil up for daddy is typically said your mate who is a quote unquote "straight" male but in turn this person actually touches you all the time and tries to get "freaky" with you. When he says this he sometimes says "No I don't actually want you to oil up" but regardless of that he will never say that he's not your daddy. So pretty much this means he DOES want you to oil up and he DOES want to be your sugar daddy.
Mate: "Oil up for daddy"
You: "Woahhh kinda gay buddy"
Mate: "Noooo I don't actually want you to oil up that would be gay"
Buying a metric fuck ton of olive oil and dipping yourself in it like it’s fries with ketchup.
God damn, Ken is so oiling up so hard right now during this Clash Royale match