But here's the problem; it freaking nasty and gross. Nothing good is coming from having your bicycle drivetrain looking like this. In fact, there are a great many bad things that come from having a bike that looks like this. First of all, the excess oil acts like glue, trapping dirt and grime and coating the parts of your bicycle with an abrasive glop that wears out parts. .
How Do I Oil My Chain?
It's a lot simpler than most people are willing to admit. Glossing over a whole other argument over what kind of chain oil to use (In a nutshell: as long as it's intended for bicycles, go for it. Never use WD-40), I recommend applying the chain oil liberally and then, here's the crucial step, WIPING THE EXCESS CHAIN OIL OFF.
If you can see wet oil on the chain, you are not done wiping. If the chain is still black and crusty then you are not done wiping. Most chains have some kind of writing stamped on the outside of the plates. Can you read it? No? Then keep wiping. Your chain should look shiny, silver, and mostly dry. The oil has already gotten to where it needs to be (the inside of the chain rollers and in between the plates) and no amount of wiping will make that oil go away. If you're wondering if you've wiped enough then the answer is no, you probably haven't. Give it another wipe.