oil business vs industry

oil business and industry both are nouns.

Word	Noun	Adjective	Verb	Adverb
oil business	Yes	No	No	No
industry	Yes	No	No	No

As nouns, industry is a hypernym of oil business; that is, industry is a word with a broader meaning than oil business:

oil business: an industry that produces and delivers oil and oil products
industry: the people or companies engaged in a particular kind of commercial enterprise

oil business (noun)	industry (noun)
an industry that produces and delivers oil and oil products	the organized action of making of goods and services for sale
	persevering determination to perform a task
	the people or companies engaged in a particular kind of commercial enterprise