Systems and methods are provided for conversion of oxygenate feeds to lubricant and/or distillate boiling range compounds with desirable properties by first selectively converting oxygenates to light olefins and then converting the light olefins to distillate and lubricant boiling range compounds with beneficial properties. The distillate boiling range products can have an unexpectedly high cetane, while the lubricant boiling range products can have an unexpectedly high viscosity index. The ability to form the distillate boiling range products and lubricant boiling range products is facilitated by using a Ni-enhanced oligomerization catalyst.