A dropper bottle is all you need. A couple drops on the blade then smear it around with your finger on both sides; you're done.
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Baby oil and eyeglass cleaner spray bottle (empty from dollar store) I spray both sides once, never had an issue.
I usually put a bit of oil on a piece of toilet paper and then "strop" the razor on it.
Thank you everyone, for your input. It's interesting to see the different tactics that people use. For now, I have decided to use EVOO, which is more natural (I thought) than canola. I just dab a little on both sides of a folded TP piece and rub it on both sides. I'm afraid of rust! Trying to be safe ;)
Couldn't olive oil go rancid?