I'm afraid I'm going to buck the trend and vote against mineral oil. It does nothing but create an air proof, waterproof layer over the skin. It doesn't moisturise, but it stops moisture already in the skin from evaporating away. It may also block pores (depends on the grade). I can see how, in certain circumstances, those aspects may be beneficial.
However, I like my skin to breathe - as it is designed to do. I would also prefer ingredients that can be absorbed, provide active benefits, and are not so highly processed. If I want a barrier cream I can pay a little more and get one made of ingredients that offer more. There are even natural barrier creams available.
Mineral Oil is a highly processed derivative of crude oil, a cousin to petrol, which I might describe as being of 'natural origin', but never as being 'natural'. Extra virgin olive oil is natural. Something that has been subjected to multiple processes before it is suitable to touch human skin is no longer natural. The main reason it is included in pharmaceuticals is that it is cheap, adds bulk, and rarely produces allergic reactions - none of which makes me want it on my skin.
Sorry if that comes over as a rant. It probably was. Grin. My sister had dry, sore, cracked hands for years. The doctor prescribed her industrial sized tubs of mineral oil based cream, for years. The day she stopped using mineral oil on her skin was the day her hands started to get better - but I do realise she is an unusual case!