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Lubricate Open-Reel Magnetic Tape?

From what I've read, open-reel recorder magnetic tape is lubricated from the factory. I have older tapes that sometimes 'squeal' in spots. Does anybody have experience on what product is best to use to try to get some extended life out of these old tapes? So far, mostly what I've read is people recommending (no particular brand of) silicone, applied on felt pads.
Any practical experience advice about this would be appreciated.
 
Have you meticulously cleaned all the tape guides? A build-up of oxide dust there can cause tape drag, so perhaps squealing?
 
Yeah, did all that. I'm pretty sure from what I've read, that the factory lube on the tapes dried-up.
The tapes are over 40 years old. They work, except for the squealing, and I'd like to salvage them.
 
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