I have a Smith Corona Coronamatic Coronet XL.

It has some felt around the outside of a round plastic collar that rotates around the felt as the belt runs over the top. I'm assuming this should NOT be oiled as it's plastic and presume the felt acts as a friction free surface.

However...

The continuously spinning linear cam which causes the hammers to strike the paper when they catch the cam has two felts on each end and I assume as this is a fast continuously running metal part, the felt should be moist with oil and it acts like a felt wick? I know old Singer sewing machines used a felt wick which you had to keep moist.

Cheers