The only place you should put a drop of oil on a bolt action rifle is the camming surface of the bolt. This is the angle that is cut into the back of the bolt that pushes the cocking piece back. And I don't use oil for this either. I use a small pin head size of white grease.

After I put any oil on my firearms I completely wipe it off. The very thin film that is left is plenty sufficient to keep it from rusting.

Oil is the number one cause of firearm malfunction.