I've experimented with a lot of cutting board oils, waxes, and other concoctions and finally came up with this mix. Do not let the simplicity fool you; it is very effective.
Heat the oil to the point at which the beeswax melts.
When it is totally melted, let cool just a bit and then pour into a jar. I use a wide-mouth 8-ounce Mason jar so I can either dip my fingers into it or rub a rag on it.
Let cool all the way and then place the lid on the top and tighten well. Condensation and then mold can occur if the rub is even a little warm.
Recipe Video
Notes
Other oils will work with this rub, but avocado oil has preservative properties and is very slow to become rancid. And you may need to adjust the amount of beeswax. Some are very hard while some are very soft. You can melt this rub down again and add more wax or more oil depending on the consistency that you want. It should be roughly like petroleum jelly.