There are many threads here on oiling clay chips. There are also many ways to accomplish oiling chips.
Here's how I do it. I take a clean cotton cloth and lightly dampen it with mineral oil. I then rub that on 3-4 chips being careful to avoid the inlay and also not to saturate the chip. I do this several times until I have about 20 chips done.
I then take a 2nd clean cotton cloth and dry those 20 chips.
Repeat the two alternating processes above until complete.
Other folks use baby oil and spoon oil. I've heard of people who even soak their chips in oil.
1. Spread all your chips out on your bed.
2. Cover your entire body with baby oil.
3. Roll around in them naked for as long as you like.
4. Never admit to your home game regulars how you oiled your chips.
---jamby nailed it. Enjoy the cramped hands from doing the process over and over...