Cool picture.
If the oil were burned cleanly this flare would release
248,000,000 BTU per hour. The flare itself would get
pretty warm.
When I was little someone gave me an alcohol torch. It
had a closed brass chamber with a tube coming out the
top that bent 90 degrees and ended in a small orifice.
An external flame heated up the tube just behind the
orifice and boiled the alcohol in the tube, which caused
a jet of alcohol, liquid and vapor, to spray out of the orifice
where it made a nice hot jet of flame.
I think this flare would get hot enough to flash the oil in it
to vapor. It would be tough to keep the pressure down to
100 PSI. High-pressure jets of vaporized oil would be
good for efficient burning. This assumes that the pressure
involved could be managed.