I have a little red plastic oil can, I oil the chain after every mortise or so... I think it's better to put oil on the chain and not run the machine so the oil has a moment to run into the chain, rather than get thrown off.
10W30 also works fine for steering fluid in my tractor, bar oil for my chainsaw, and engine oil for everything but my tractor.
Heck, it even makes a decent sandwich spread, add a little mustard, maybe some pickles...