What is chrism oil made with?
Mixture of olive oil and balsam blessed by a bishop
For further reading, Diocese of Oakland’s How chrism is made
Olive oil is the key ingredient in chrism… The fragrances were mixed separately… the balsam mix, which includes frankincense, eucalyptus, balsam of Peru, myrrh and lavender…
Once those were completed, the balsam and florals were mixed together and measured into the 12 gallons of waiting oil, which had been placed in colorful containers marked CHRISM.
After the chrism was prepared, it was set aside to age, where it would be shaken up, on the intervening Sunday before the Chrism Mass the next week.