Lubricants

Lubricants are typically used to separate moving parts in a system. This has the benefit of reducing friction and surface fatigue together with reduced heat generation, operating noise and vibrations. Lubricants achieve this by several ways. The most common is by forming a physical barrier i.e. a thin layer of lubricant separates the moving parts. This is termed hydrodynamic lubrication. In cases of high surface pressures or temperatures the fluid film is much thinner and some of the forces are transmitted between the surfaces through the lubricant. This is termed elasto-hydrodynamic lubrication.
Typically the lubricant-to-surface friction is much less than surface-to-surface friction in a system without any lubrication. Thus use of a lubricant reduces the overall system friction. Reduced friction has the benefit of reducing heat generation and reduced formation of wear particles as well as improved efficiency. Lubricants may contain additives known as friction modifiers that chemically bind to metal surfaces to reduce surface friction even when there is insufficient bulk lubricant present for hydrodynamic lubrication, e.g. protecting the valve train in a car engine at startup.
Lubricant circulation systems have the benefit of carrying away internally generated debris and external contaminants that get introduced into the system to a filter where they can be removed. Lubricants for machines that regularly generate debris or contaminants such as automotive engines typically contain detergent and dispersant additives to assist in debris and contaminant transport to the filter and removal. Over time the filter will get clogged and require cleaning or replacement, hence the recommendation to change a car's oil filter at the same time as changing the oil. In closed systems such as gear boxes the filter may be supplemented by a magnet to attract any iron fines that get created.
It is apparent that in a circulatory system the oil will only be as clean as the filter can make it, thus it is unfortunate that there are no industry standards by which consumers can readily assess the filtering ability of various automotive filters. Poor filtration significantly reduces the life of the machine (engine) as well as making the system inefficient.