To keep your bike quiet and in good order, it's important to lube the chain.Do it as often as needed, but once a week after cleaning is a good place to start.
To get lube where it's needed, oil just the inside surface of the links. Oil on the outside will flick off, which is wasteful and messy.
Get a friend to hold the rear wheel off the ground or clamp the bike in a workstand.
Position the bottle of lube so it is just touching the chain on the inside surface.
Slowly turn the pedals forward while applying lube evenly to each link.
Hold the rag under the chain and slowly turn the pedals forward again to wipe excess lube from the outer surface of the links.