I just use a few drops of canola oil, wipe it down, then heat it up enough for any water to start evaporating. By the time it cools, it’s dry. Unless I’m missing something, this uses ~ 1000x less oil. It also avoids build up of oil.
I’d expect your cast iron to become sticky / blistered over time, though I haven’t tried the oil you use.
Cast iron pans?