The present invention relates to an engine oil lubricant composition for use in internal combustion engines comprising one or more molybdenum containing compounds that deliver 1-1000 ppm molybdenum to the finished oil, one or more phosphorus containing compounds that deliver 25-650 ppm phosphorus to the finished oil, and one or more poly(meth)acrylate viscosity index improvers (VI improvers) that may or may not be functionalized, for improved fuel economy and turbocharger related deposits. In addition, the composition comprises an antioxidant system which is carefully balanced to provide improved fuel economy, comprising an aminic antioxidant, a phenolic antioxidant and an ashless dithiocarbamate. Additionally, the formulated oil may contain a dispersant poly(meth)acrylate, in addition to the PAMA VI improver, to reduce the amount of traditional succinimide dispersants.