It may be well-held (3)

I believe the answer is:

oil

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'it may be well-held' is the definition.
The definition suggests a singular noun which matches the answer.

This is the entire clue.

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(Other definitions for oil that I've seen before include "Crude" , "SECOND PART OF 23" , "Liquid fuel" , "Type of fuel" , "Viscous substance for lubrication" .)

I've seen this clue in The Globe and Mail.

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