I would oil it - they were treated originally with oil. I wouldn't sand, as these are stained, so unless you restain, you'll make it look carp.
I use Feast and Watson Rubbing Oil for the most part on previously finished wood. It has Tung Oil and Wax, which polishes up nicely without looking gawdy gloss. I also make my own with linseed and pure bee's wax - forms a paste, and refreshes wood nicely.
Or, find a bottle of Howard's Feed N Wax - orange oil with wax. Great stuff too.
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