Disposal Oil??

Is there an “oil bath” in the bottom of the disposal? Mine is working fine, but recently lost fluid near the bottom of the disposal on the ring above the reset button and electrical connections. It is a dark fluid, similar to a very light machine oil. I now can only see a trace of the oil, all around the bottom.

There is no oil in the disposal. The seals have failed and water is starting to leak from the top of the disposal though the body and out the bottom. Time to start shopping for a new one.