It may help with chafing but it will be the end of your plastic pants or the cuffs of your disposable diapers.
Oil will destroy the plasticizer in your plastic pants and make them stiff and cause them to break down to the point where they will tear
With disposable the oil will attack the glue that hold the diaper together and the elastic in the high standing cuff. So blowouts along the legs are much likely and when you take the diaper off the chance of the lining tearing out is very likely.
I completely agree with all of weewetone's post. I have experienced the plastic pants breakdown and the destruction of disposable diapers that oils cause.
What I use to prevent skin breakdown and chaffing is a silicone base product. The brand name is Medline, soothe and cool barrier. I get it from Amazon.
It truly helps with chaffing and diaper rash for wearing 24/7. It wipes off very easily and not sticky staying in place.
I apply a thin layer over my entire diaper area including my genitals at every diaper change. I also use a lite dusting of baby powder over the entire area also for mainly scent purposes.
My skin is healthy and have no issues with rash or chaffing 95% of time. The other 5% is the summer heat issues.
I use premium disposable diapers 24/7 normally getting 10 to12 hours out of each diaper having no problems.
Chaffing could be caused by one or more things. Incorrect diaper size, quality of diaper, improper fit meaning too loose or to tight, and not changing when needed meaning prolong soaked diaper.
The diaper should be fitted so that it is SNUG. Not loose or so tight that it uncomfortable to move around freely.
Most of today's premium adult disposable diapers (AB/DL or medical diapers) are far much better than 10 years ago. So much better
with absorbent, capacity, fitting, and leak protection while being comfortable wearing and using.