The dispersion stability of carbon-based solid lubricants/lubricating oils remains a challenge to overcome. Recently, novel processing routes were developed to obtain 2D turbostratic graphite particles via solid-state reactions between B₄C and Cr₃C₂ (GBC) and between SiC and Fe (GSF) that present outstanding tribological properties in a dry scenario, as well as functionalized graphene (GNH). This work investigated the suspension stability of GBC and GSF particles (0.05 wt.%) dispersed in a low-viscosity polyol ester lubricating oil and their tribological performance. Ammonia-functionalized graphene (GNH) particles were also used as a reference. In order to evaluate the dispersion stability, in addition to the classical digital image technique, a much more assertive, reliable, quantitative and rarely reported in the literature technique was used, i.e., the STEP^TM (Space and Time-resolved Extinction Profiles) technology. Reciprocating sphere-on-flat tribological tests were carried out, in which before contact, 0.2 μL of pure oil and suspension (POE + 0.05 wt.% of solid lubricant) was applied on a flat surface. The results showed that the GBC particles remained remarkably stable and reduced the sphere wear rate by 61.8%. From the tribosystem point of view, the presence of GBC and GSF reduced the wear rate by 18.4% and 2.2%, respectively, with respect to the pure oil, while the GNH particles increased the wear rate by 4.2%. Furthermore, the wear rate was improved due to the highly disordered carbon tribolayer formation identified on both surfaces.