Silicone oil should be stored in a cool, dry place away from direct sunlight. It should also be kept away from any sources of heat or ignition. It should be stored in its original container and tightly sealed when not in use. It should also be kept away from any other chemicals or materials that could cause a reaction. It should be inspected regularly for any signs of contamination or degradation. If any signs of contamination or degradation are found, the silicone oil should be discarded and replaced.