Not to revive an old thread, but I was going to make a post on doing your own beard oil and it was basically the same as this one.
I used jojoba oil as the base then just add scents. It crazy how much money you can save for creating the same thing. The only difference I've seen is that the store bought oils are clear and mine is hazy, so maybe they put some sort of clarifier, but who cares - doesn't matter how it looks.
I also did one with coconut oil as the base. You end up with a semi-solid form that I keep in a tin. Since it has a super low melting point, once it hits your hands it melts and just rub it in.
Now I want to do a mustache wax...