Based on recommendations from health organizations like the NHS, it is generally advised not to use baby oil or lotions on newborns until they are one month old.
The reason for this recommendation is that a newborn's skin is very delicate. At birth, the top layer of a baby's skin is quite thin and can be easily damaged. Over the first month, a baby's skin undergoes a natural maturation process, during which it develops its own protective barrier. Introducing oils or lotions too early can potentially interfere with this natural development or irritate the sensitive skin. For premature babies, this maturation period might take even longer.
Therefore, allowing the baby's skin this initial month to mature naturally is the recommended approach before applying products like baby oil.