When I oil razors (long-term storage), I treat them the same way I treat my woodworking tools (and Japanese blades): I have a rag rolled into a can, saturated with a light oil (3-in-1 or camelia). I just lightly swipe the blade on the rag. If the oil beads, you probably put too much. I clean the razors with alcohol when I get them out of storage.

My normal rotation razors don't get oiled, but they're also not stored in the bathroom.