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How Often to Oil
The general rule is to oil the machine after every 8 hours of use. Make it a habit and you will be thanked by subsequent generations who are able to use the machine. Tri-Flow Oil. My favorite. The sewing machine forums are full of people extolling the virtues of this oil, which has Teflon in it to increase its slipperiness, and the straw is the best: It's easy to see the fluid traveling down it so you can predict when the drop will come out, and the drops are the smallest, which gives you better precision.
Superior Lubricant 2oz Drip Bottle
This Teflon oil is great not only for sewing machines, but other items like fishing reels, etc. highly recommend it for most sewing, embroidery, and overlock/serger machines.
Tri-Flow Superior Lubricant provides twice the lubricating power of most competitive brands. Its light viscosity allows for deep penetration into hard to reach moving parts. High grade petroleum oils provide optimum lubrication under extreme temperatures (-60 to 475F) and humidity. Formulated solvents soften and remove dirt and contaminants, while special additives displace moisture and prevent rust and corrosion