Lubricating oil with enhanced protection against wear and corrosion

A lubricating oil composition comprising:

• (a) a major amount of an oil of lubricating viscosity;
• and (b) about 5 to about 60 mM of one or more overbased borated alkaline earth metal alkyltoluene sulfonate detergents prepared by a process comprising:
• (i) reacting (1) at least one oil soluble toluene sulfonic acid, or an oil soluble alkaline earth metal toluene sulfonate salt, or a mixture thereof;
• (2) at least one source of an alkaline earth metal;
• and (3) one or more overbasing acids, at least one of which is boric acid, in the presence of a mixture comprising:
• (4) at least one hydrocarbon solvent;
• and (5) at least one low molecular weight alcohol;
• (ii) heating the reaction product from step (i) to a temperature that is greater than the distillation temperatures of the hydrocarbon solvent, the low molecular weight alcohol, and any water generated from step (i), so that the solvent, alcohol and water generated may be distilled from the product of step (i);
• wherein no external source of water is added to the reaction mixture during the process;
• wherein the lubricating oil composition further comprises (c) a mixture of a low overbased calcium sulfonate detergent and a high overbased calcium phenate detergent, wherein the low overbased calcium sultanate detergent has a TBN of less than 100 and the high overbased calcium phenate detergent has a TBN of greater than 100;
• and (d) one or more friction modifiers, wherein at least one of the friction modifiers is a molybdenum succinimide complex and further wherein the lubricating oil composition comprises no more than about 0.20 wt. % of phosphorus and no more than about 0.50 wt. % of sulfur.