High but not squeaky! (5)
'high' is the definition.
Both the answer and definition are adjectives.
Perhaps you can see an association between them that I don't see?
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for well-oiled that I've seen before include "Drunk - without squeaks?" , "Drunk (as a smoothly working hinge?)" , "Thoroughly lubricated, or quite drunk" .)
'high' is the definition.
(thesaurus)
I don't understand the remainder of the clue.
Can you help me to learn more?
(Other definitions for oiled that I've seen before include "get drunk" , "Lubricated or drunk" , "Lubricated (with drink?)" , "protected from rust?" , "wasted" .)