[JohnKSa]

Use 0000 steel wool DRY.

The removed rust is an abrasive, if you put oil on the metal surface or on the steel wool, the removed rust is retained and rubbed on the surface which can damage the finish.

If you use the steel wool DRY, shake it out frequently and keep the surface of the gun dusted off the removed rust doesn't get rubbed around on the finish. Keeping the steel wool free of rust particle will minimize damage to the remaining finish.

You can oil the metal surfaces AFTER the rust has been removed but you want them to be as dry as possible while you're actually using the steel wool.

I'm posting this because I see a lot of people recommending the use of oil and steel wool to remove rust and I know from experience that is much harder on the finish. I used to have a friend with a gun shop and I would go over all the used guns each week to keep them oiled and rust free. Since they were out in the customer area, not behind the counter, they had been handled and some would build up light surface rust. I would oil them if they weren't rusty and remove the surface rust if they were rusted. It was easy to see the difference between using the steel wool with oil and without.