Yes indeed. Oil brings not only the character of the wood out better, but small damages are easier repaired than with lacquer.
Especially in areas where there is more most (kitchens, bathrooms) slightly damaged lacquered floors won't protect the wood against this moist, while oiled floor - where the oil has penetrated the wood deeper than lacquer can - protect better.
(Do you know that in kitchens you don't walk but shuffle. From cupboards to cooker, from cooker to fridge etc. Your shoes will have a slight abrasive effect on the finish layer - again oil will handle this way better than lacquer.
In relation to this post, I have an engineered oak floor (laquered) in living/dining room & was going to extend it through to kitchen hoping for a 'continuous' effect should I put oiled down then or would this look weird??
oil or wax is always best in kitchen area. If you are wanting the same floor/ colour as the existing wood then you could always sand the floor and apply oil or wax to the whole floor. I think i would just fit the same floor and see how it goes. If it starts to look bad in the kitchen area then you could always sand and change to oil in the future.