The glove box latch mechanism in my 65 F85 sticks. The button doesn't pop back out after pushed. I tried a little oil but it didn't help. Is there a fix?

 

I would flush out the oil remains in the lock mechanism. Let the lock dry and try some lock graphite. Try to get some in any crevice and put some on the key when it is inserted. Works on home door locks real well.
Wayne