G'day all,
Usually with other air tools you just put some oil in the air line fitting every once and a while.
This, and a few drops is plenty!
A good oil spec is an 'ISO VG32 Hydraulic Oil', which is exactly what is sold as 'air tool oil' in smaller pack sizes.
I just paid ~$10 for a litre pack of 'air tool oil' from my local Mitre 10, as that'll last me for many years.
It's taken me ~ 35 years to use up 200 mL of the stuff, as I've owned an air compressor [McMillan twin cyl model, cast iron pump] for that long.
For air tools that incorporate an 'air motor' to impart rotary motion, inline and wall mounted 'oil mist lubricators' are available, and do a better job when the tool is in heavy use. High speed ones, like die grinders, in particular.
I can put up a pic of an inline lubricator, if anyone hasn't seen one.