The term LUBE is a shortened form of the word lubricant, which is a substance used to reduce friction between two surfaces. OIL is a common type of lubricant, and is often used in engines and other machinery to reduce wear and tear. It is also used in many consumer products such as cosmetics, hair care products, and even food. OIL is typically composed of hydrocarbons, and can be derived from both natural and synthetic sources.