Yes, but you shouldn't use conductive grease. The vast majority of conductive greases are only conductive enough to bleed off static electricity. Any grease which is conductive enough for flashlight level current is exotic, expensive, and shouldn't be used in a flashlight anyway since it could make its way to places it doesn't belong. Ordinary non-conductive greases improve contact by preventing oxidation and corrosion of the parts not in direct contact. Contact pressure is adequate to squeeze the grease from between the contacts, allowing a proper metallic path for the conductive current. Some of the favorites are various Nyogel formulations and ProGold. Even WD-40 will often greatly improve the contact performance. Just put a thin dab of it on all contact surfaces.
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