Two senses pull in different directions. (1) In agriculture: 油料作物 'oilseed crop' (peanuts, soybeans, rapeseed). (2) In military/transport: a generic word for fuel/lubricants in tanks, ships, aircraft. Context decides.
memory
油 (oil) + 料 (raw material) — 'oil material'. Either the raw seed it comes from, or the oil itself as raw material for an engine.
