You have to consider the speed at which the shaft will be moving, the housing bore, and the runout. These are important to make sure that you choose an oil seal that will not be exposed to unconducive abrasions.
No single physical property of rubbers is responsible for the successful performance of an oil seal or ‘O’ ring. The ultimate tensile strength, breaking elongation, modulus, shore hardness, creep and stress relaxation in tension and compression loads are all important physical properties that characterize a seal or ‘O’ ring. Compression strength and set together with stress relaxation or decay are important for effective sealing. The difference in these properties in a swollen seal is highly critical. An optimum swelling value in a fluid medium is a desirable feature. De-swelling decreases the seal pressure against the wall of the housing where the seal is fixed, leading to leakage. Over swelling minimizes the physical properties of the rubber. Seals made of polysulfide rubbers have extreme fuel resistance but undesirably high compression set. The effect of temperature on the seal is an important factor. Swelling under stress can increase at higher temperatures and a suitable compounding technique should be adopted to reduce this effect.
Its sealing edge comes in full contact with the shaft surface in order to provide excellent sealing performance.
(See Figure 3.)
Gasket Valve Cover: Selecting Quality Components

No matter the PTFE machining techniques and other processes used in making mechanical parts, they tend to fail due to some reasons. The same thing applies to oil seals. When they are exposed to some factors, they fail. The factors are stated below alongside the solutions.

Oil seal material
NBR