I do oil my scalp but with lighter natural oils like jojoba, almond, evoo, coconut, amla, bhringraj, shikakai, and grapeseed oils.
Some info from a natural skin care site lists some of the most popular and very beneficial oils which are being used for beautiful long hair with indefinite good qualities are:
Jojoba Oil - can be used for dry hair as it helps to moisturize your hair properly. It helps to soften your hair and can be used to detangle your hair before shampooing.
Olive Oil - strengthens your hair and nourishes it due to inherent qualities it has. It helps to reduce stress and promotes the idea of healthy hair by providing elasticity to your hair.
Coconut Oil - is one of the oil which helps in the lubrication of the hair. The content in coconut oil like magnesium, potassium, calcium and iron happens to provide the best for your hair. It is very useful for damaged hair due to its ability to strengthen it.
Rosemary Herbal Oil - is very useful for the unwanted and flaky dandruff problems. Warm the oil slightly and apply it with the help of your fingers or cotton. Rub it well on the scalp and wrap with a hot towel.
Added by me - One can make their own by infusing fresh rosemary leaves in some evoo or jojoba oil for about 3-5 days and adding a few drops of rosemary essential oil to the infusion. Store the infusion either on top of the refrigerator or in a window sill where the sun can shine on it. This ensures that the infusion becomes potent enough for maximum results.