[ChevyTech]

I agree it could because of losing magnetism in the distributor.

Here is a reply I made on this topic in the past:

On these distributors the housing/upper bushing area can get so worn out that the shaft will move sideways so far that the points on the pickup coil pole piece get hit by the reluctor points on the shaft. When this happens the ECM receives compromised signal for RPM and timing issues.

Around 1989-1990 the distributor shafts didn't have the groove in the shaft to direct oil "back" down into the engine. Oil will get into the pickup coil and can damage the coil windings. Any of the distributors can do this if they get very worn.

If there is oil coming up the shaft and getting out onto the pickup coil – replace the distributor.

These distributors can also have problems because of loss of magnetism needed for the pickup coil to work.