What are Mineral Oils? Mineral Oil is used as a lubricant, a cutting fluid, and a jute batching oil. Spindle oils are light mineral oils used as lubricants in the textile industry. Electric space heaters are sometimes use mineral oil as a heat transfer. Silmid stocks a wide range of Mineral Oils from a range of global brands including Aeroshell, Castrol Aviation, Fuchs, Kluber Lubrication and more.