A wrapped bush adapted to be force fitted into an axial opening of a bearing housing is formed at its outer peripheral surface with one or more oil grooves. The oil groove or grooves are formed by press work such as embossing to extend obliquely relative to a line parallel to the axis of the wrapped bush such that they are in parallel to or symmetrical with each other with respect to the line. Upon wrapping a metal strip into the wrapped bush, the oil groove or grooves neither lessen the effect due to interference on the wrapped bush nor produce any crease or crack at or near the oil grooves, thereby attaining out of roundness to a desired extent.