I would say that the oil darkens leather more. The difference is that the oil is an oil, and the LP is a harder paste that is mostly beeswax. I find that the LP is good for slightly softening leather, but mostly protecting it, whereas the oil penetrates deeper and softens it up more. awesome I put a light coat of Obenauf's Oil today, they are currently sitting in the closet in the shade, hope to be able to start wearing them in tomorrow. I applied at like 5pm you guys think its okay to start wearing the boots in the afternoon?