Just leave it on. Any excess will end up on the inside of the scabbard, which is a good thing.
Old gunsmithing saying: "Oil is cheap. Rust is expensive. Use more oil."
Edited to add: just thought about it, you mentioned "cleaning." If you're actually cleaning the blade with oil, I wouldn't bother - use hot water, dishsoap (or just hot water by itself) and a rag, scrubby pad, or whatever you have around. Dry and oil.