Unless you removed the original Opinel laquer finish, the linseed oil won't get very far, and most likely will just gum up the works.
I just finished customizing a No.12 Opinel. When tweaking one, I sand off the original finish, including in the blade tang area; I remove all the metal parts (blade, lock collar, inner collar) from the wooden handle, which I then shape to my taste. Once I'm down to bare wood, I soak the handle in boiled linseed oil, in a zip-lock bag to avoid a mess, for two full days. After soaking, I just rub down the handle in paper towels to remove the excess linseed oil.
The first time I did a big Opinel, the oil soaking swelled the wood itself, and left the blade tight. I just sanded out the slot in the handle where the blade tang goes, and soaked it again. If it was tight before refinishing, it will likely be tight when you're done. Just don't get too carried away with the sandpaper, it's all too easy to leave yourself with a floppy, loose blade!