A molybdated succinimide complex is disclosed which is prepared by a process comprising (a) reacting an alkyl or alkenyl succinimide of a polyamine of formula I wherein R is an about C12 to about C30 alkyl or alkenyl group; a and b are independently 2 or 3, and x is 0 to 10, with an ethylenically unsaturated carboxylic acid or anhydride thereof; and (b) reacting the product of step (a) with an acidic molybdenum compound. Also disclosed is a lubricating oil composition containing at least (a) a major amount of a base oil of lubricating viscosity and (b) a minor amount of the molybdated succinimide complex.