DIAGNOSIS Bar oil is being pumped but is not being directed to the bar. The oil outlet hole on the clutch cover or the corresponding channel on the saw body is blocked.
FIX Remove the side cover and bar. Clean the oil outlet hole on the engine side—it's a small port near where the bar mounts. Use a thin wire or compressed air. Then, clean the matching oil channel on the inside of the clutch cover. Ensure the hole in the bar itself is clear.
IF THAT DIDN'T WORK The oil pump output may be too high. The pump on the 120 Mark II is not adjustable. If the pump is defective and over-pumping, it will need replacement.
HEADS UP Running the saw without adequate bar oil will destroy the bar and chain in under a minute. After cleaning, test oil flow by running the saw at high idle with the bar tip aimed at a piece of cardboard. You should see a line of oil slung onto the cardboard within 30 seconds.