First I have never had a 582, but have been around many of them.
This is not part of the oil injection system. It is not a combusted or "consumed" oil. It is the oil supply for the rotary valve shaft. If this tank goes dry, your motor quits. It is just as important as the oil mixed in the fuel.
The oil type used here is the same oil as the oil mixed into the fuel, by either injection or premix.