Hi Andy, On steam I am more inclined to a mechanical lubricator that a 'spit & suck' displacement type.
However on compressed air using air drills screwdrivers etc. there is always an in line oiler, a glass jar (like a fuel filter) that is filled with suitable oil the amount of oil 'leaked' into the airline is controlled by a knob on top of unit.
Found one
Cheers Tom