All plant-based oils are unstable over time. They turn rancid, and they also lose volatiles at least as quickly as animal and mineral oils do.
If you are interested, and have the dregs of a bottle of Dextron III Mercon transmission fluid on hand, I have been lubing my rolling stock axles and rods on steamers for about 14 years now on the advice of a chemical engineer. It's a superior lubricant, paints and plastics safe, and it lasts a long time. I have even restored the brassworks in two antique clocks using ATF.