They do, but not nearly as well as silicone, and it has other issues, too. You see, silicone puts a coating on the cube that creates less friction, allowing it to move better. Oil does the same thing at first. But as you might find out, it starts to get slower and slower. This happens because the oil desintegrates the plastic. So you will start to get little plastic peices that slow dow your coube.
Your cube is calling for you.