The most common use for annointing oil has probably been annoint those who are sick when praying for healing; but did you know it has other uses as well?
Annointing oil can be used to santify a property and building for use as a church.
It can be used bless items used in the church, such as the altar.
It can also be used on your personal home to bless it and help keep evil spirits out. (See Annointing your Home)
The oil can alo be used as a tool to drive out demons from a person.
Another use is to annoint a person to leadership such as a pastor, worship leader, etc...
So what does the Bible say about its use?
When Moses was giving the people of Israel the Laws of God and His instructions on how to construct the tample and the duties of the temple, He gave Moses a recipe for annointing oil that some say is truley lost to its exact formula due to plants and herbs names being changed.
There is also a Warning from God about this oil and its uses. Some people in Judiasm believe that no one should ever make this if they believe they have the ingredients. They believe that God will strike them if they do.
I am not sure either way on this. I do not have the oil made but I have heard claims from people who say they do and God does bless them by using this specific formula in obedience to the scriptures.
I can only say that if you want to find the oil, PRAY ALOT and be sure it is the Holy Spirit leading you to do so and not just your desire to have the oil. and if you do get the oil ONLY use it the way it is instructed to do so in scriptures: for annointing someone for healing, leadership, or items to be used in the church (and only in the church) like an altar.
Moreover the LORD spake unto Moses, saying,
Take thou also unto thee principal spices, of pure myrrh five hundred shekels, and of sweet cinnamon half so much, even two hundred and fifty shekels, and of sweet calamus two hundred and fifty shekels,
And of cassia five hundred shekels, after the shekel of the sanctuary, and of oil olive an hin:
And thou shalt make it an oil of holy ointment, an ointment compound after the art of the apothecary: it shall be an holy anointing oil.
And thou shalt anoint the tabernacle of the congregation therewith, and the ark of the testimony,
And the table and all his vessels, and the candlestick and his vessels, and the altar of incense,
And the altar of burnt offering with all his vessels, and the laver and his foot.
And thou shalt sanctify them, that they may be most holy: whatsoever toucheth them shall be holy.
And thou shalt anoint Aaron and his sons, and consecrate them, that they may minister unto me in the priest's office.
And thou shalt speak unto the children of Israel, saying, This shall be an holy anointing oil unto me throughout your generations.
Upon man's flesh shall it not be poured, neither shall ye make any other like it, after the composition of it: it is holy, and it shall be holy unto you.
Whosoever compoundeth any like it, or whosoever putteth any of it upon a stranger, shall even be cut off from his people.
1 Samuel 16:13
Then Samuel took the horn of oil, and anointed him in the midst of his brethren: and the Spirit of the LORD came upon David from that day forward. So Samuel rose up, and went to Ramah.
Is any sick among you? let him call for the elders of the church; and let them pray over him, anointing him with oil in the name of the Lord: (Yeshua / Jesus)
And the prayer of faith shall save the sick, and the Lord shall raise him up; and if he have committed sins, they shall be forgiven him.