Originally Posted by Pleiades

I assume (because you haven't mentioned it) that the oil level is not rising, it's remaining constant and the fuel economy is normal?

If the oil level isn't rising, pumps priming as it should and the bike is running fine (ticking over evenly, operating smoothly and performing as normal) then it's probably not over-fuelling. Have you checked the spark plug? Does it look a normal colour?

There maybe a clue in the fact you say you've "only had it a few months". Do you know when the oil was last changed? All "old" oil will smell slightly of petrol, particularly if the motor has been run for short periods/short runs and never gets to warm up fully. You yourself might ride longer distances and get the motor fully warm, but did the previous owner? I think maybe the ticking might not be the cause of the smelly oil, more a symptom that your bike's got old oil in it and it's lubricating qualities are less than ideal and possibly causing valve/timing train noise.

If you don't know when the oil was last changed, change it (and the filter) now. At least you'll have a known starting point to work from. See how you go after that. Monitor the situation (levels and smells) carefully.

No harm in dosing some fresh fuel with some injector cleaner too at the same time.