Re: 84 Mercury 90hp I-6 impeller replacement help.
The standard replacement oil would be Marine Grade Hi-Vis gear oil.
If you want to splurge, you could get one of the Premium oils that Merc sells or an aftermarket synthetic.
Either type will keep your gears well-lubed. Theoretically the synthetic may unleash a minuscule amount of hp due to reduced friction.
If you're on a budget, Wal-Mart typically carries aftermarket Hi-Vis oil and also an inexpensive hand pump that screws into the quart bottle. You'll need about 22-24 oz. for a refill.
Note on the drain/refill procedure, always pull the drain plug first then the vent plug. The vacuum formed in the gearcase by leaving the vent plug in prevents the gear oil from rushing out when you pop the drain plug.
Fill from the bottom (drain) until oil gushes out of the vent in a clear stream (no air bubbles). Reinstall the vent plug then the drain.
Note that the motor should be in its normal operating position (tilted down) for the drain/refill.
HTH & enjoy the stinky gear oil (one of my least favorite tasks)!.............ed