6 So he arose and went into the house. And the young man poured the oil on his head, saying to him, “Thus says the Lord, the God of Israel, I anoint you king over the people of the Lord, over Israel.

Another meaning for the word anointed is “chosen one.” The Bible says that Jesus Christ was anointed by God with the Holy Spirit to spread the Good News and free those who have been held captive by sin (Luke 4:18-19; Acts 10:38). After Christ left the earth, He left us the gift of the Holy Spirit (John 14:16). Now all Christians are anointed, chosen for a specific purpose in furthering God’s Kingdom (1 John 2:20). “Now He who establishes us with you in Christ and has anointed us is God, who also has sealed us and given us the Spirit in our hearts as a guarantee” (2 Corinthians 1:21-22).

Question: “What is the anointing? What does it mean to be anointed?”

Answer: The origin of anointing was from a practice of shepherds. Lice and other insects would often get into the wool of sheep, and when they got near the sheep’s head, they could burrow into the sheep’s ears and kill the sheep. So, ancient shepherds poured oil on the sheep’s head. This made the wool slippery, making it impossible for insects to get near the sheep’s ears because they would just slide off. From this, anointing became symbolic of blessing, protection, and empowerment.

The New Testament Greek words for “anoint” are chrio, which means “to smear or rub with oil, and by implication to consecrate for office or religious service”; and aleipho, which means “to anoint.” In Bible times, people were anointed with oil to signify God’s blessing or call on that person’s life (Exodus 29:7; Exodus 40:9; 2 Kings 9:6; Ecclesiastes 9:8; James 5:14). A person was anointed for a special purpose—to be a king, to be a prophet, to be an builder, etc. There is nothing wrong with anointing a person with oil today. We just have to make sure that the purpose of anointing is in agreement with Scripture. Anointing should not be viewed as a “magic potion.” The oil itself does not have any power. It is only God that can anoint a person for a specific purpose. If we use oil, it is only a symbol of what God is doing.

Question: “What does the Bible say about anointing oil?”

Answer: Anointing oil, mentioned 20 times in Scripture, was used in the Old Testament for pouring on the head of the High Priest and his descendants and sprinkling the Tabernacle and its furnishings to mark them as holy and set apart to the Lord (Exodus 25:6; Leviticus 8:30; Numbers 4:16). Three times it is called the “holy, anointing oil” and the Jews were strictly forbidden from reproducing it for personal use (Exodus 30:32-33). The recipe for anointing oil is found in Exodus 30:23-24 and contained myrrh, cinnamon and other natural ingredients. There is no indication that the oil or the ingredients had any supernatural power. Rather, the strictness of the guidelines for creating the oil was a test of the obedience of the Israelites and a demonstration of the absolute holiness of God.

Only four New Testament passages refer to the practice of anointing with oil and none of them offer an explanation for its use. We can draw our conclusions from context. In Mark 6:13, the disciples anoint the sick and heal them. In Luke 7:46, Mary anoints Jesus’ feet as an act of worship. In James 5:14, the church elders anoint the sick with oil for healing. In Hebrews 1:8-9, God says to Christ as He returns triumphantly to Heaven, “Your throne, O God, will last for ever and ever…” and God anoints Jesus “with the oil of gladness.”

Should Christians use anointing oil today? There is nothing in Scripture that commands or even suggests that we should use similar oil today, but neither is there anything to forbid it. Oil is often used as a symbol for the Holy Spirit in the Bible as in the parable of the wise and foolish virgins (Matthew 25:1-13). As such, Christians have the presence of the oil of the Spirit who leads us into all truth and anoints us continually with His grace and comfort. “But you have an anointing from the Holy One, and all of you know the truth” (1 John 2:20).

Credit and Reference Material from: http://www.gotquestions.org/anointing-oil.html
http://www.gotquestions.org/anointed.html
http://biblia.com/books/nkjv/Ex17.1