Personally, it depends. I consider this fact the day I intend to buy a tripod. Usually a relatively good quality tripod needs very little cleaning and maintenance. Investing in a good tripod ( if you have not gotten one yet or intend to get serious an dupgrade to a better one) makes all the difference. This is because sometime even with the best care to it, it will still wear down and in some cases corrosion takes places even when you don't use it.
I have a Manfrotto tripod with a 3 way headset. It has been with me for about 10 yrs. I have yet to oil the moving rotating portions. The legs using old school nuts to hold the extensions. Not one part is rusting due to the use of metal that is resistance to rust. The only thing it gets is a good wipe down with a water soak cloth when I feel it needs one. Apart from battle scars from toppling over a few times and some knocking around that chip abit of the paint works, it still looks good and performing well. And this is not even a tripod that cost more then $250.
But if you presently have tripods which are less then well made of sturdy stuff, fret not. You can still prolong it's lifespan with some good wipe down especially if it has come into contact with rain and especially near the sea for prolong periods. This is because, those cheaper non branded tripod might use aluminium for the tripod legs sections but most screws and other small connecting parts are usually cast iron or a mix of it...so rust will be your worst enemy. As for oiling them, they will help you abit with the smooth panning or movement but not by much if it is a simple tripod with simple contact parts like those that are made more of plastic parts then metal-to-metal contact rotating parts. WD40 would usually be better then oil or light grease for those connecting joints and parts. WD40 is good not so much for keeping parts lubricated but to keep rust at bay and the fact that WD40 is a very light liquid, each spray will sip into all the tight smallest spacings in between parts.
Does this mean you should get a better tripod to keep maintenance to a minimum? In a way it helps but it also depend on how much you use that tripod once you invest in it.