The problem with pine is the nasty orange colour it goes. I would use a paint stripper rather than sanding it to preserve any natural colour the table has aquired over time.
The orange colour comes mainly from the lacquer and tends to be worse with spirit based varnishes. Clear water based lacquered would be less orange. Wax doesn’t really change the colour but offers sod all protection.
I’d probably recomend a water based lacquer but even this will orange over time.
Have you thought about painting it?
Imo oil is not a suitable finish for pine.
Edit:Unless it’s Victorian or something in which case wax and do regular maintenance.