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Apply a small amount of rubbing alcohol to a clean cloth or paper towel. Press the rubbing alcohol onto the stained carpeting. Remove excess rubbing alcohol from the carpeting.
Be aware that rubbing alcohol is toxic and flammable. Always use rubbing alcohol in a well ventilated area and wash your hands thoroughly after handling it. Keep it away from children and pets. If handled with caution rubbing alcohol is entirely safe. One benefit of rubbing alcohol is that most people already have it in their medicine cabinet. After doing so thoroughly, let the carpeting dry. If the oil stain is still visible, repeat the process using more rubbing alcohol. As rubbing alcohol is a solvent, it will help to dissolve the oil and separate it from carpet fibers. Once the carpeting has sufficiently dried and the stain has been erased, rinse the entire area with water, and blot the water out with a fresh cloth or paper towels. This should take care of any residual alcohol and reduce the odor. Do not use air fresheners or fragrances to deal with the smell, as this may only make matters worse. Open windows and turn on a fan; improving ventilation is the best approach.