Whether the soaking is done in water or oil, the leather, laces, and pad are subject to damage. There is a constant quest to develop ways to break-in gloves instantly. Many of these procedures involve the use of household appliances, such as conventional ovens, microwave ovens, washers, dryers and hair dryers, none of which should have anything to do with leather ball gloves. I read an article in a major sports magazine that quoted a professional ball player, who described pouring hot coffee with cream into the pocket of his glove. One other thing.
Some players think that pummeling a new glove is the way to a quick break.
Yes, it is. It is basically the same as using the glove for many games, only much rougher. I believe the glove will be better served, and will serve better, if this extra abuse is avoided. If you just catch balls to form the glove, you are training the glove and getting your timing down at the same time. Better for you.