It does work for oily skin! I have a very oily T zone and this product just mattifies my skin like a dream! And girl i feel you, i have very sensitive skin, and this baby doesn't break me out, what so ever!
Brilliant product for setting your liquid foundation however it does not provide the best coverage if that's what you're looking for. Keeps you matte all day but not cakey looking. One of my best drugstore buys by far!
It did really well with my skin. It didn't break me out at all :) though it does have some chemicals in it that can make some prone to skin irritation. I didn't personally experience that problem however.