Only way to know for sure is to open it, but this would be my guess as well. If it is, the OP definitely needs to find a new watchmaker.
This is near the mainspring barrel, and often some old school watchmakers will excessively oil the mainspring in the watch when they put the old one back in. New springs come with dry lubricant on them, and don't need oiling. If you do oil a mainspring you are using, it only requires a very thin film of oil...
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