A folding knife includes a lubricated barrel pivot removably mounted in the handle. An oil reservoir within the barrel communicates with the bearing surface by means of an oil wick in a bore. The barrel may be mounted in the handle by engaging male threads at one end of the barrel into female threads in the knife handle in which case an oil conduit is provided within the male threads for filling the oil chamber. Similarly, the barrel may be mounted with a pair of screws engaged with female threads at opposite ends of the barrel in which case an oil conduit is provided within at least one of the female threads for filling the oil chamber. Further, the barrel may be mounted by providing a slotted head at one of the barrel and female threads at the other end. A screw is mounted through the handle to engage the female threads and an oil conduit is provided within the female threads for filling the chamber with oil.