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Yes, this topic has been beaten to death. Feel free to search for the other threads with regards to people's preferences / experience with various particular brands.
In quick summary - anything that is BMW LL-01 is acceptable. And no, there is nothing wrong with running the dealership's oil. Do oil / filter changes more frequently than the once a year recommended by BMW and you should be fine.
Personnally, I just changed the oil for my 335i xdrive and put in Castrol 0W-40 European formula because it's in stock and regularily goes on sale. It is LL-01.
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