Yes, you want to store the mix in something airtight. I used to use a quart size mason jar. I now store it in an old gallon size mineral spirits can. I don’t think storing it in anything plastic is a good idea. I usually pour the mix into an old metal baking pan. Usually soak for a couple of minutes or so using a cheap chip brush to make sure every part gets wet. After a few minutes, I take it out and shake of the oil. I may even use compressed air to blow out the oil. Then I’ll wipe off any excess oil with blue shop paper towels. Then I’ll let it dry on a cookie rack. Make sure yo lay the towels out flat so they are not bunched up to prevent spontaneous combustion. I then will pour the remaining mix back into the storage container. The oil mix will be dry in about 24 hours. I will then topcoat with Deft semi gloss spray lacquer. Not the water based stuff, use the oil based lacquer. If it needs sanding, I use a piece of brown paper bag. It’s like using 2400 grit sandpaper without scratching.
i have been using this method for many years with great success.