In theory, engine oil could provide a small improvement in an engine's detonation limit. Lube oil is used to help cool the underside of the piston crown. If you came up with some magical lube oil that had a super high specific heat value, it could provide better cooling of the piston crown. Which would improve the detonation limit of the engine, all other things being equal.
"Q: How do you make a small fortune in racing?
A: Start with a large one!"