The best way to treat an oil burn is to put some Aloe Vera Gel on the oil burn to help soothe the burn.
The oil burn should go away within a week or two if you treat it daily with some Aloe Vera Gel or other ointment.
Before applying the Aloe Vera Gel you should run some cool water over the oil burn after the oil burn happens.
You should then cover the oil burn with a dry sterile bandage or dressing.
Never apply any butter to the oil burn as butter could make the oil burn much worse.