I don't know if your pails have a 1-1/8" - 12 spout but you could transfer to HDPE containers - would also allow you to see the amount of oil left.
I was wondering if anyone can suggest a neat and clean way of having all my shop oils readily available for easy dispensing. Right now we get all our way oil and coolant in 5 gallon pails, and then pour them out. Has anyone ever seen some sort of a spigot system for these small pails so I can make a rack with all the pails on their sides, and simply use the spigot to dispense the product?
This is the system we use. Works fine, but you will need a tray or something to collect the drips after use. It does require a transfer hassle. As Pastera mentions, you cannot see through most buckets, so if there were a spigot with a level indicator, that would be handy. Although, you would need an air breather in the upper part of the lid also.
Rack and Jug
Learn cause and effect through experience. Mastering those relationships is the "Common Sense" ability within the art of any trade.
In this thread I show a portable approach for oil dispensing.
Not the cheapest but very convenient and much less likely to get contamination or spillage.
An open mind is a virtue...so long as all the common sense has not leaked out.