I'm not sure where you stand on this issue. Anointing with oil is not part of my normal practice. Bruce Grubbs, the senior pastor at the church where I serve part-time on staff (Gladeville Baptist) does this on a regular basis and I think it's very cool.
I posted a new article on this subject by Pastor Harold Dinsmore in the Pastors Area of LifeWay.com.
Pastor Dinsmore believes we are missing a great opportunity if we don't choose to offer the anointing of oil when we pray for the sick. He offers his reasoning as well as five things to consider should you choose to do this.
Read Should We Anoint the Sick with Oil Today?