Olive oil, or an appropriate substitute oil, should be consecrated by the authority of the Priesthood before it is used in administering blessings or performing anointings preparatory to Marriage Sealings and the Reform Mormon Endowments. A Reform Mormon may consecrate the oil alone or in the company of others.
To consecrate the oil, one holds an open container of olive oil and says the following:
“(Address Deity)
By the authority of the Holy Priesthood, I consecrate this oil
and set it apart for anointing and blessing the sick and afflicted.
Amen.“