Oil is one of the most crucial resources in New World. It is used to make Steel Ingots, which are required for most Armor- and Weaponsmithing recipes starting at Tier 3.
Oil can only be found in Marshland and to gather it you need to have the Mining tradeskill at level 20. Oil is tracked on the map at Mining level 45, so you will start seeing it on the compass and have an easier time finding the nodes. The nodes are called Seeping Stones and look like in this image:
To find Marshland on the map, press M and open the Legend. It shows you what each area looks like on the world map and which resources to find in them.
During the preview event, one of the only Marshlands that actually spawns oil nodes is Weaver's Fen. This zone has mobs around level 30, so keep that in mind before going over there, as most nodes are near mob spawns.
On the image above, which is taken from our interactive resource map, you can see most of the oil nodes in Weaver's Fen.
Since there are not a lot of nodes in the game right now and it's such a highly sought after resource, expect a lot of competition around these nodes. If you come across a node and cannot harvest it, you might have to wait for it to respawn.
Found more nodes? Let us know and we'll add them to the map!