If you are lucky enough to own a hard wood floor either solid or engineered it is worth considering the options.However, if you are restoring soft wood in the form of pine floorboards, we would not recommend oil for two reasons.
Firstly oils will bring out the orange in the wood and secondly oils will not add surface strength, where as a lacquer will.
Oils generally produce a mat natural finish. The disadvantage of oils over lacquers is they require more maintenance in order to keep them looking their best. However, the advantage is that one can restore high traffic or damaged ares of the floor without having to strip back the whole floor.
Oiled floors can be be cleaned and the oils can be topped up with very little down time, as a consequence they are increasingly being used in airports and similar 24/7 locations.
If you are looking for a hard wearing relatively low maintenance wooden floor, with the option of four different sheen levels (double mat,mat, satin or gloss).
A two part commercial lacquer like Bona Traffic HD is probably the best option.
We will be more than happy to discuss these options with you more fully either on the phone or at our initial survey.