All the older English bowyers used to say avoid oiling your bow(linseed oil), as it makes the bow shoot soft. I can't say how true it is as the only stuff I have oiled like that were cricket bats, it takes a long time to dry properly.
Danish oil has driers in it so you can put multiple layers quickly, and build up a decent finish. Something like that or Tru oil would be a better choice.
If moisture resistance is what you are going for, paraffin wax, or shellac were the 2 finishes that rated the highest, in tests done by the late, great Dean Torges