Untreated IPE Decking Treated with IPe OilTM Simple Application, Exceptional results. Ipe Oil™ Hardwood Deck Finish is an oilbased natural wood finish. It is specifically formulated, using trans-oxide pigments, to protect and preserve the natural beauty of exterior hardwood decks. Ipe Oil™ Hardwood Deck Finish provides excellent penetration of even the densest hardwoods with minimal raising of the grain. It protects and conditions the wood while maintaining a completely natural appearance.