I can only think that MO denotes Machine Oil and & 70 is the viscosity of the oil. Since sewing machines are not subject to big variations in temperature they require a monograde oil as opposed to cars etc which require a multigrade to cope with start and running temperature. (I went off on one there
) Looking at my sewing machine oil pot it's also recommended for use on drills and guns. If your oil was supplied with another sewing machine
@Acorn I'm pretty certain that it will be MO70 if it came from a SM dealer.
As an aside, when I bought my Brother V3; which doesn't require oil I was given some useful info by the dealer regarding servicing. He told me that some people get their V3s serviced religiously every year regardless of the amount of use, while other people just leave it until they get problems. He said that the needle bar on the V3 is actually hollow and if I put the tiniest smidgeon of oil on it that will be helpful to the running. Service engineers use a light paste on the needle bar (which DH will no doubt have)