Hi!
For most people, yes, though everyone is different and exceptions both by person and spot do exist. It greatly reduces friction on the skin, allowing for a quick, unexpected sensation. The fingers or tools glide quickly and easily across the skin instead of gripping it. Skin is kind of...rubbery, for lack of a better word. As tickling progresses, or even from the start on a humid day, the extra moisture from sweat and oils in the skin enhance that sticky or rubbery texture. Oil eliminates that problem. When using tools like a stiff hairbrush, back scratcher, or similar implement, reducing friction is really important to prevent more of a scratching or irritating sensation as opposed to a tickling one. When using fingers, especially on the upper body, your fingers can glide across wider areas with more pressure. It's kind of the best of both worlds of soft and hard tickling.
Before trying it, know that not all oils are created equal. As a rule, thinner oils are better. A lot of people use common baby oil because it's thin, non-drying, and low-cost. It is a petroleum by-product, however, so some people avoid it (you can read on that and make your own decision). Another reasonable choice is fractionated coconut oil (not to be confused with other forms of coconut oil). When choosing an oil, always be mindful of play partners' allergies and skin sensitivities. If unsure, testing on a small patch of skin for several hours first is something you might want to consider. Lastly, always make sure you trust the source and that the oil is intended for contact with human skin. The skin can absorb a variety of chemicals, including toxins, carcinogens and other harmful compounds.
Good luck! 🙂