Oil finishes in general are mostly cosmetic, but I like Danish oil type finishes because they have resins in them which does provide some protection while the oil brings out the color of the wood and leaves a natural looking grain, buts with some luster. It is easy to apply and to maintain, requiring just a good cleaning and new coat occasionally (it can be years in between). You can also make your own easily enough from oil, poly and white spirit using 1/3 of each ingredient, although I haven’t done this myself yet.
Mike, an American living in Norway