It would make sense to me that grease would be the appropriate lubricant for an O/U's hinge pin.
On the other hand, the only O/U's I can lay my hands on that have been used a lot, get Break Free (oil) put on their hinge pins. No wear on either of those......
One of them has been used a lot since 1968, and still is as tight as the day it was bought. Won't tell you the brand- it'll blow a hole in Fabs prejudices