There are many kinds of grease, as well as many kinds of oil. If you mean the kind of lubricant that is used in automobiles, then most are soaps mixed with some kind of oil (mineral, vegetable, animal). One of the largest uses of lithium is in greases; silicones also are important components; graphite, lime, copper and molybdenite are also in many lubricating greases.
So there is no simple yes/no answer to your question. Some greases do contain oil (assuming you mean petroleum), and some do not. If you meant something other than lubricants, then there will be yet other answers to your question.
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