I tried to extend the life of an older 8 oz bottle of TruOil  y thinning....the whole blame thing just kinda curdled.  I finished a couple dozen arrows with the lumps and all, just had to rub longer and harder.  I'll save throwing out half of the 8 oz bottles by buying the smaller ones as needed and finishing them up.  Like someone else said they do go a long way, even if you do 12 coats like I just did on a hackberry bow this week.  Bloody sweet gloss, baby!