Based on my experience with three Toyotas with over 200,000 miles I conclude that name brand oil, changed every 5000 miles with a new filter is adequate here in Southern California.
All three cars were overhauled at about 200,000 miles. Oil consumption prior to overhaul was typically one quart every 1500 miles. Bearings were plastigauged and found to be within the original (not the wear limit) tolerances. Bearing were reused, valves ground, new valve stem seals installed, and new rings installed. Typical oil consumption after overhaul was one quart every 3500 miles. Not up to new standards but pretty good for a minor overhaul. No doubt valve stem wear and ring groove wear are responsible for the increased oil consumption.
The 87 Camry went another 188,000 trouble free miles until it was wrecked. The other two went about 100,000 more miles and were sold.
The oils used were chosen based on what was on sale at Kragen. Filters were Fram.