I know of two fans that need lube. One is a friend's bathroom exhaust fan, a Nutone, which is fairly old. Second is a small table top oscillating fan that I use.
Both have dried out hearings. The exhaust fan got slow, then noisy, and finally quit. The table top fan stopped spinning.
Ideally, pitch em out, buy new ones. The exhaust fan is $60, and the table top fan is about $10. Who's got money? I've had them both apart, spray cleaned with solvent, and lube with Zoom Spout Turbine oil. The exhaust fan is making bearing noise, and the table top fan stopped.
I'm thinking next, to mix in a puff of powder graphite with the zoom spout turbine oil. Keep the graphite away from the electric.
What is the tried and true lube? Has to be inexpensive, don't want to spend more on a can of lube than the price of a fan.