You have my sympathies. Ds has eczema, we went down exactly the same route - olive oil (useless), oilatum, an emollient (Cetraben to start with), felt we weren't getting anywhere, scared of steroids, starting to feel v. frustrated and upset for him as it got worse and worse. Then saw a GP whose daughter had eczema who was v. patient with us, and joined National Eczema Society, and felt much more empowered! We have it under very good control now but it took trial and error over a few months to get the right stuff.
So here's my understanding FWIW, developed over the past year and a half: You can't 'cure' eczema, but you can normally get mild to moderate eczema under good control, with a combination of using an emollient cream (plain moisturiser - there are loads of different kinds) that suits that particular person on a very regular basis (several times a day), using a bath additive (again one which suits that person), working out triggers and avoiding them, and using steroid cream short term, for flare-ups. I was far too wary of this - hydrocortisone 1% is generally considered v. safe and it would have saved ds a lot of suffering if I'd been readier to use it. Aqueous cream makes many people with eczema worse, there are lots of other alternatives.
Our regimen is: Aveeno oil in the bath (a tip from Mumsnet; Oilatum makes it worse for him), baths only twice a week (they caused flare-ups for him more often, but many benefit from daily baths), Diprobase on his body at every nappy change, emulsifying ointment on his face at every nappy change and face wipe, all clothes and sheets washed in Surcare detergent (and we send a muslin and blanket washed in Surcare in to nursery for him to sleep on there). No shampoo, soaps, cleansers. Washable baby wipes for nappy changes, non-scented baby wipes for nursery. Hydrocortisone 1% for the odd flare-up, we keep using it for 2 days after it clears to promote the final stages of healing. Nails kept short to avoid damage from scratching, and always covered up with a poppered vest so he can't scratch his chest. Vests go on inside out because the seams irritate his shoulders.
Sounds hassley but tbh we have just got completely used to it all now, it's just part of looking after him, and so much better than feeling so sad and stressed for him with his itching, bleeding skin. You wouldn't know he has eczema now, and it had got quite bad - open flesh on his chest and cheeks. But it took a lot of trial and error and observation of what was and wasn't working to get to a routine that worked for him, and this routine may change in future as his skin matures and changes.
Different creams and oils suit different people and different people have different triggers. You can get lots of recommendations for different emollients and bath additives on Mumsnet and elsewhere, but talk to a GP with experience of eczema and you can get a plan of action together and review what's working and what's not. (Don't do what I did, and pay for the creams when you can get them on prescription - they're expensive!)
Oh and a lot of them grow out of it eventually!