Yes 3 in 1 oil would be good to use.
Attic fan motor oil.
You can make an electric fan last longer if you simply lubricate the motor on a regular basis.
Doing small maintenance on your appliances can extend the life of them by years.
This lubricant oil is produced by liberty oil products and it is a 100 synthetic oil compound.
To check if there s enough oil in the fan take a pipe cleaner and fold the end over 1 2 inch to.
To oil a ceiling fan use a non detergent electric motor oil which is safe to use with an electric motor.
An electric fan is no different.
How to lubricate electric fan motors.
It is excellent for smaller electric fan motors because it helps to reduce friction when there is a moving surface.
You should oil the motor bearings.
Before you add the oil clean off the fan and oil hole using an all purpose cleaner.
They are in the very center where the fan shaft goes.
The bottom one is under the very center silver spot in your photo and the other is where the shaft enters the motor on the top side.