oh dear, it wont a be a problem on the cable side of the magnetic drive (the metal disc assembly you can see) just the needle side but if youve got oil into the bearings theres not much more you can do. Check nothing is restricting the movement of the needle and metal disc and that its return spring is all free - you should be able to gently flick the needle (I just gyrate the entire speedo) and it kicks round nicely before coming back to zero. However in the end it could be that the bearings are shot...