A couple of lifetimes ago when I worked at an aircraft engine factory, I ended up in charge of fuel and oils used in testing prior to shipment.
One product Braco 599 a rust inhibitor used with Mil-Spec 23699 lube oil on marine and industrial gas turbines had a shelf life. This wasn't due to the product breaking down, it had to do with the container (standard 55 gal. steel drum) contaminating the product over time.
If what you have is free of additives it's probably alright. If it has additives I'd check and see what kind of shelf life they have.
Chances are if it looks and smells like fresh product it's O.K.