You need to heat the oil right up mate then pour the oil over the chilis, that have been packed into very clean jar..
I would rather dry them once they are red , or freeze them, the Indian people and Pakistanis here , blend chilis, with lots of oil to a fine paste mix, and spices to taste, usually cumin seeds, kalonji, mustard and fennel seeds, fenugreek seeds, and salt boil up then pack in a very clean jar, they call this Chili achar chili pickle to you and me] and serve it with everything... ahh I know the exact recipe here goes..
2lb or more fresh red chillis with seeds, blended to a very fine paste
half pint oil vegetable or sunflower
1 teaspoon each of each
Cumin seeds
black onion [kalonji]
Mustard seeds
fenugreek seeds
fennel seeds
2 teaspoons salt
Heat a few table spoons of the vege or sunflower oil in a pan, add spice seeds, when they pop add chilis and fry, for a while just getting a bit of color [might make you choke a bit , does my wife but not me, might have something to do with years of being a smoker, now ex-smoker]
Add the rest of the oil and bring to the boil, don't burn the chilis, add salt
Pack the mix into pickle jars that have had boiling water to sterilise them seal and leave for a few months, use as a very hot pickle, great with sangers, steak etc, or add to stews etc enjoy!
MAKE SURE A FILM OF OIL SITS ON THE TOP OF THE PICKLE ALL THE TIME, keeps bacteria and moulds out...