Put about 5 drops of light turbine oil on the felt, the bronze bearing is considered an oil less bearing and it doesn't require much lubrication. I like turbine oil, it is very light and is what a lot of OEM manufactures suggest to use on oil less bronze bearings. Do a google search for zoom spout turbine oil and they will tell you where you can purchase it.
Sometimes when the cap is pulled off, the felt will look burned on the inside where it fits around the bearing. Bronze bearings are full of microscopic pores. If you heat one with a torch, oil will drip out of them. The felt will act like a wick and will allow oil to get to the bearing. I have always soaked the hell out of the felt. Its not like the oil has anywhere to go. Also do not hit the metal cover in the center, tap on the outside edge to reinstall, otherwise it can rub on the top of the armature shaft. I also oil the felts around the pn1 and pn2 brush bearings.