Could be normal throttle-slide-hitting-the-stop sound, meaning plenty of slack (or too much). Doesn't hurt to check, though. I keep mine as tight as I can get away with. Slack (especially excessive) seems to exacerbate low speed off-idle jerkiness.
I was under the impression most modern cables were inner sheathed, making lube unnecessary (and even harmful if the wrong solvents were present in the lube.)