“No oil” is a term coined by nephew and other young folks of this generation raised in evangelical churches. It means the speaker, choir or other church function is NOT under the influence of the Holy Spirit. (In Scripture, oil is representative of the Holy Spirit.)
Of course the church/the Kingdom is NOT running out of oil.
See Acts 2:17 New International Version (NIV) -
17 “‘In the last days, God says,
I will pour out my Spirit on all people.
Your sons and daughters will prophesy,
your young men will see visions,
your old men will dream dreams.
Since we’re in the last days, I believe our sons and daughters of this generation are looking for the outpouring Spirit as promised. And any church that doesn’t operate in the Spirit will lose the Spirit or “oil” generation.
---------------------------------------------------------------------------------Look at the lack of oil in the Parable of The Ten Virgins: What It Means to Be Ready (Matthew 25:1-13)
Key verse: Matthew 25:12 But he replied, ‘I tell you the truth, I do not know you!’
If supposed Christians do not operate in the Spirit, God does not know them.
Other references: John 14:24 - New International Version (©1984)
God is spirit, and his worshipers must worship in spirit and in truth."
Genesis 22:2 - New International Version (©1984)
Then God said, "Take your son, your only son, Isaac, whom you love, and go to the region of Moriah. Sacrifice him there as a burnt offering on one of the mountains I will tell you about."
God did not recognize the son of the Hagar, the bondswoman. God does not recognize things done in the flesh (Not with His power).
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Another mention of oil in the bible is 2 Kings 4:1-7 - The Widow’s Oil
Key verse 1: 2 Kings 4:6 - But he replied, “There is not a jar left.” Then the oil stopped flowing.
Please note the oil stopped flowing when all the jars were full. The Spirit is a gentlemen and an economist, He does NOT pour out when jars or men are full of themselves, their ideologies. As an economist, He doesn’t waste the anointing.
Key verse 1: 2 Kings 4:7 - She went and told the man of God, and he said, “Go, sell the oil and pay your debts. You and your sons can live on what is left.”
Please note the oil handled all of the widow’s problems: 1) it paid her debts; 2) her and her sons could live off the rest. In other words, the Holy Spirit can take care of all your problems.
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Conclusion: There is no shortage of oil/Spirit in the Kingdom, only possibly shortages of empty vessels.