I use Penrite 15W50 semi-synthetic oil.
10W40 would be the minimum I'd suggest (I ran Castrol Magnatec 10W40 for some time), but my engine sees quite a lot of high temperatures (oil over 100 degrees) so I think the extra weight of the 15W50 is worthwhile.
If you use thin oils intended for modern engines, you will probably increase the oil consumption. Most fully-synthetic oils (e.g. Mobil 1) are too thin in my opinion, though Castrol makes a 10W60 full-synthetic oil that would be appropriate.
If you use non-semisynthetic (i.e. mineral) oils, you might risk coking in the turbocharger when shut off.
These are just my opinions and it will be interesting to see what others suggest.
-Alex