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Longman Dictionary of Contemporary English
oil paint
noun
EXAMPLES FROM CORPUS
▪ A variety of mediums and thinners are available for use with oil paint which facilitate further manipulation of the paint.
▪ Are there any other art materials that can be used on top of oil paint?
▪ In places the green is so thick on the page that it develops a gloss like the dried skin of oil paint.
▪ It even tells you how to make a rosary out of rose petals and water and salt and oil paint.
▪ Most artists' ranges of oil paint are priced in series.
▪ This is because oil paint shrinks as it dries.
▪ Types of oil paint Aside from the traditional oil paint there are several variations according to the binder used when making the paint.
Wiktionary
oil paint

n. A paint in which the colours are suspended in an oil such as linseed oil which hardens on exposure to the air.

WordNet
oil paint

n. paint in which a drying oil is the vehicle

Wikipedia
Oil paint

Oil paint is a type of slow-drying paint that consists of particles of pigment suspended in a drying oil, commonly linseed oil. The viscosity of the paint may be modified by the addition of a solvent such as turpentine or white spirit, and varnish may be added to increase the glossiness of the dried oil paint film. Oil paints have been used in Europe since the 12th century for simple decoration, but were not widely adopted as an artistic medium until the early 15th century. Common modern applications of oil paint are in finishing and protection of wood in buildings and exposed metal structures such as ships and bridges. Its hard-wearing properties and luminous colors make it desirable for both interior and exterior use on wood and metal. Due to its slow-drying properties, it has recently been used in paint-on-glass animation. Thickness of coat has considerable bearing on time required for drying: thin coats of oil paint dry relatively quickly.