Holy Oil, also known as CHRISM, is a consecrated oil used in the Catholic Church and other Christian denominations. It is used in the administration of certain sacraments and blessings, such as baptism, confirmation, and ordination. The oil is composed of olive oil and balsam, and is blessed by a bishop. It is believed to have special spiritual significance, and is used to anoint the forehead of those receiving the sacrament or blessing.