McGregor won the lightweight title back in 2016 but dropped the belt ahead of his mega fight with Floyd Mayweather Jr a year later.
The Irishman appears to be behind Islam Makhachev and Justin Gaethje in the queue to fight for the title next against the Brazilian, who submitted Dustin Poirier earlier this month.
But Queally, who insists there are holes in Oliveira’s striking game that The Notorious can expose with his power, believes his teammate is primed for an opportunity at the gold next.
“It sounds like the belt might happen next to be honest,” Queally told the Mirror, with McGregor eyeing up a fresh reign after falling short in his last challenge against Khabib Nurmagomedov.
“Normally in this sport, when you’ve got two fighters that want the same thing, that’s what happens.
“So Charles wants this fight with Conor, Conor wants this fight with Charles and normally that’s what happens especially if there’s money to be made, which there is.”
Meanwhile Oliveira says he is “waiting” to fight McGregor and wants the bout to take place in May next year.
Oliveira told Sherdog: “May would be a wonderful date. Conor challenged me asking a date, and tweeted Ireland vs Brazil 2, [referencing McGregor’s 2015 win against Jose Aldo].
“Not only him, but also myself and all the world wants to see that fight. So let’s make it happen. I’m waiting for him in May.
“It may be in welterweight, lightweight or middleweight – with my title on the line or not. Just choose and I’ll be ready.”
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