Soaking an oilstone

I don’t think soaking is the way to go. You soak waterstones.
Oilstones I don’t know a whole lot about, but I usually use kerosene
or mineral oil as a lubricant with the ones I have. Baby oil works
well. Soapy water sort of works in a pinch too.

Loren is right, Oil stones don’t need to be soaked. I use a mix of diesel fuel and mineral oil. Either one works straight, and I’m sure kerosene would be just as efficient. I use diesel fuel because I have it. I just put it in a spray bottle and add to the stone as needed.

I’ve read that once you use oil, water will not work, but i’ve never tried it.

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i use a waterstone, but i see guys at work who have oil stones and all they do is pour a little pnuematic tool oil on top of it to lubricate while they sharpen a chisel. just a few drops so they arent sharpening dry.