Ive used hoppes, CLP, Mobil 1, and conventional motor oil over the years.
The motor oil regardless of type or brand (synthetic, conventional, mobil 1, castrol syntec, quaker state, pennsoil, etc) always dries up too fast, and needs added frequently compared to hoppes or CLP.
I used to work on cars for years, I can tell you that auto trans fluid is designed to clean and lubricate, but has a red dye added to make identifying it easier, its thin and dries out quicker than motor oil does.
Hoppes dries quicker than CLP does, and cost more (mostly sold in tiny bottles). I dont use grease on my rifles, I want then to be a bit wet with oil.
I stick with CLP, I can coat the parts with a thin coat, put the rifle away (or handgun), pull it out later on and fire hundreds of rounds without adding any oil to it. The rifle is still damp, and cleans alot easier than with other types of oil in my experience, in fact very easy.
I used to keep alot of mobil one for my car and my cycle, and filled up a small bottle for use on the firearms, but it just didnt work as good for some reason.