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1.
bizarre or eccentric; unusual or unexpected, especially in a sexual manner; kinky, like the chains of an unsaturated lipid (or oil); often involves spanking, bondage, teasing, and/or other types of fetishes. The term is applicable to a variety of things including people, acts, and items.
She just went to buy some bananas, whipped cream, and handcuffs. She is so oily.
That was the oiliest math test I've ever taken. All of the questions were about strippers, and they all had the same name as the professor.
Our Biology teacher makes us draw random pictures on the back of our tests while he shoots us with rubber bands. He is insanely oily.
by MitosisMan November 20, 2012
 
2.
A person, usually a man, who is perceived as being parasitic or of low moral principle and whose skin is also oily or who sweats a lot. Used also to refer to people of Greek, Italian, Middle Eastern and sometimes Jewish extraction. The target's occupation usually is one percieved as having a high rate of dishonesty or graft, and as such is often applied to politicians, lawyers, car salesmen, Hollywood agents, and pawn brokers.
"She's hired that oily lawyer again for her second divorce."
by WhooooAreYoooo April 25, 2006
 
3.
From Russel Brand (legend) - their breasticles people.
'I Love Her And Her Oilies.'
by Just4kicks July 06, 2006
 
4.
being extremely drunk.
Man, last weekend, i was oily as fuck!
by tuhottustop March 01, 2006
 
5.
having to do with a person who is sly, ingratiating, unctuous, etc.
The way in which they see history, makes them seem all the more oily.
by The Return of Light Joker August 17, 2010
 
6.
A cigarette. From the Cockney rhyming slang Oily Rag = fag.
I am going outside for an oily.

Got any spare oilies?
by Alan O'Brien July 28, 2005
 
7.
when someone is cooler than everyone else; rises to the top. It's like how oil sperates from water. oil being the kick ass people and water being everyone else.
(the definetion should probably be made clear, before or after use, since there is the literal kind of oily. ick)

This is an old term, from somewhere such as Leave It To Beaver.
"she's oil"

"damn that bitch oily"

"What can i say, i'm oily, I rise above the rest"
by April Two Guns December 30, 2005