You will get a lot of opinions on this subject.The best way for a moderate level maker to go is to have two quenchants.A fast quench like Parks#50 and a medium quench like Parks AAA.You should have a large enough volume of oil to properly conduct the heat away from the steel,This is a minimum of 1 gallon,3-5 gal. is a real good size tank.The knife steels use in oil quenching are mostly medium quench .They would be O-1,5160,1080,1070,and most all non-stainless damascus. 1095,and the W series steels (for knives the "water quench" steels should be oil quenched) are candidates for the fast quench.
Stacy