According to Singer and stated in the owners manual, you use the oil for the oil places, and the Singer lube (grease) for the bearings and the motor. ONLY use the Singer lube for the motor, no oil or other grease.
However many of use have found that Tri-Flow oil and grease works much better than the Singer oil and grease for the bearings and gears. We use it to the exclusion of the Singer or other oils and greases.
We do however use the Singer Lube (grease) in the tube for Singer motors.
Joe