I had the exact same question. My 1976 owners manual for the xl2 says for best performance to "use Premium Homelite 32:1 Motor Oil (SAE-40) at 32 to 1". It also gives the option of using "Homelite 2 cycle (SAE-30) Motor Oil in the ratio of 16 to 1". I'm not sure if this is to promote the use of Homelite products or if they are even still available. So I just mix standard 2 cycle oil bought at Walmart or TSC at a ratio of 30 to 1.
Grouseman, March 2009