The sacrament of Anointing with Oil is for the healing of the body, soul or spirit.

"Is there any sick among you?  Let him call for the elders of the church: and let them pray over him, anointing him with oil in the name of the Lord.  And the prayer of faith shall save the sick, and the Lord shall raise him up; and if he has committed sins, they shall be forgiven him."  James 5:14, 15

Olive oil that has been consecrted by the prayers of the presbytery is the visible sign used in the sacrament.  Bible Narrative:  Holy anointing oil was compounded with perfumes for special times of consecration and sanctifying vessels in the temple.  Exodus 30:22-25.

Oil is used in the sacrament because (1) Oil symbolizes the presence of the Holy Spirit.  Hebrews 1:9; (2) Oil is the symbol of the sacrament that secures the promised blessings of God.  Hebrews 8:5.

The consecrated oil is smeared, rubbed or poured on the sick individual for healing and dliverance in the Name of the Lord.  James 5:14

The anointing of oil is administered by the elders of the Church.  James 5:14