Be sure what you are using as there are a range of types of silicone oils, mostly based on PolyDiMethyl Siloxane (PDMS). Some used to treat fabrics have reactive chemistry added and are able to bond onto cellulose like cotton or wood. Others are simple, unreactive oils which remain oily and mobile. Unreacted oils will creep over time, from weeks to years onto areas where they aren’t wanted and can attract dirt and prevent paint or sealant adhering.
There aren’t many solvents that dissolve silicones well. Paraffin is the most accessible one that works, or it can be thinned by emulsifying with water and a generous dose of Fairy liquid or similar.
Personally, I wouldn’t use boracol on the wood despite it being effective. Such borates have been phased out of many consumer products because of the repo toxin risks.
I kept our cockpit teak looking good for a few years with sanding
and oil. Now we accept the inevitable and have let it silver. Leaving it with a splash of patio magic in the spring shifts the winter algae and grime. Salt water and rain take over the maintenance for us after that.