I don't know...
...however I would venture to guess that lubricating with "expired" oil would be effective but might not "last" as long as you might hope.
My question is: Are you charging for your services or is your watch repair limited to learning the trade on your own dime?
It would seem that if you are charging customers for watch servicing you ought to be able to replace your dated oil whereas if you are only worried about your own watches you ought to be able to determine that the "old" oil you've used is going to want to be cleaned and re-lubed on a more aggressive schedule.
I would never criticize anyone for working within his or her means. If you are getting any results or encouragement using what you have or can afford at this time, more power to you.
From each according to his ability, to each according to his needs. Karl Marx
I do hope Santa comes through for you.
Good luck and keep plugging away.
PS: that's a handsome looking watch.