Cleaning, polishing Speaker Cabinets ?

What Photon says, oil is not going to produce the desired effect with an "on the wood" finish. Treat it just like you would your car. The problem now is you have an oil based film on top of the finish, that has to be removed first. And it'll take something with a bit of solvent capability to completely remove, I'd use ammonia free Windex. Once it's clean, feel with the tips of your fingers and if the surface isn't glass smooth - if you feel any roughness or grit - it'll have to be cleaned further with a clay bar.

Once the oil is removed and the surface is free of contaminants, then you could use an automotive wax for a full shine or automotive detailer as mentioned above for quick shine. If you have scratches or swirls, again it has to be dealt with just as you would a car, with compound and a buffer.

The mistake you made is thinking you're applying anything to the wood, you're not. The finish is an impenetrable layer, so it is the only thing your cleaning regimen will effect.

I have a real wood Daedalus speaker, not sealed by lacquer. Lou recommends Lemon oil for his speakers and I have found it excellent, smells good too.

I don't think people take enough notice of the difference. A Lacquered finish isn't really wood any more, it is like a gloss finish on a car. Real wood needs treating to stop it drying out and it changes over time. Typically the colour darkens significantly over time, my speakers certainly have over the last 5 years.

If you go the wax route I really like the Zaino show car polish for clear coated finishes. It is not abrasive and the best part is doesn't leave any film, powder or white residue. Can be found on the Zaino website.

Different veneers and finishes require different methods. Some are finished so they can breath and some aren't. If your finish is supposed to breath, you must be careful because oiling it or applying pledge or wax etc. can clog the pores and now you could be creating a situation where you could damage over time to that finish depending on environmental conditions. Harbeth for example does not recommend oils for this reason.

If you have a finish on it, some waxes contain abrasives and over time, you could be wearing it down. I've seen Spendor say that the lacquer on their veneers should not be cleaned with polishes for this very reason.

Best thing to do is to ask the builder of your speaker. Hopefully they are familiar with what works best with their finish.

I purchase Coconut oil from Costco, and found it to be excellent as a wood polisher/conditioner.