I found out in my wood burner that you can burn the oil very hot and with out visible smoke. When starting the stove old shop rags, blue paper towels, are used. They are covered in used oil. These are place right in front of the air intake. Within seconds it sounds like a jet engine, burns very hot and no smoke. The trick appears to be that you need a wick and fast flowing air since you don't the chamber to keep it really hot.
I've considered making a small pan say 12x2x2 to hold oil. Stuff it with the shop towels and used oil. If it burned well then add a feed to it. Already have a 1gal paint can with valve for an oil drip.
Now, just dripping oil onto the middle of the bruning wood will help the btu's but not very efficient. You don't see any smoke if its just a drip and there is any kind of fire going.
If you could get the same air flow in the middle of the fire as you do at the intake it would make a world of difference.
An oil burner would be nice but I only generate about 30 gallons a year.