Welcome aboard, Kakalina.
If your summers are pretty humid, you may find mold
growing with it's "feet" in your oil. Should that happen, but you still like the satiny look, I'd sand off the oil and varnish
it satin finish, much easier to clean, IMO. YMMV. For background, I used to have oiled teak on our previous boat, and after it got moldy, it was a fiddly job to sand it all off all those little turned railings, and bring the wood back, but the varnishing did work and we liked the look when it was done.