Series 2Oil-based paints are highly regarded in the artist community and one of the most versatile forms of painting. These oil based paints can be blended, which is an added benefit when you are trying to achieve certain colors. Oil paints are known for being durable and holding their color for a long time and are slow to dry, which allows and artist to rework the paint to achieve the desired effect. Many artists today consider oil painting to be the fundamental art medium.