I use the Limbsaver oil that comes in a small tube with a needle applicator. This stuff is so nontoxic that you could probably drink it. It is absolutely scent free which is what I really like. You can use it on your gun as well. I like the needle because you can get into those supposed service free axle bearings and the cable positioner bearings on Bowtech bows and others. Be sure and use a compressed air like for blowing out your computer to get all the gunk and dirt out from around the bearings. Even POLLEN gets into these places so blow it out good and then lube it.
I use WD40 or any aerosol spray lube available from an auto parts store. Teflon lube is also available in an aerosol spray can. Just wipe off any excess and use the bow several times to make sure the squeaks are gone and excess lubricant is removed. These aerosol cans all come with a small tube which is pushed into the hole in the spray button of the can for fine or hard to get at locations. Good luck.