Can you use Metal Oil based paint on wood Shelving
It will work fine provided you don't apply it over latex products, which means you'll need an oil-based primer as well. (You probably do want to prime OSB.) It will also be more expensive than latex because your hardware store can only sell oil based by the quart. The solvents in it contribute to smog, vendors are required to verify that larger containers will be used on metal.

The limits on oil based have forced a lot of improvement in water based, oil isn't necessarily more durable across the board anymore. Specialty latexes for flooring are probably tougher than generic oil based. You can also find some one part epoxy paints that aren't too costly if you're willing to compromise on color. (They're mainly targeted for appliances and floors so the selection is limited.)