I'm not sure how much oil you will lose but I expect it would be minimal. Just put a pan under it and change it.
I am probably one of the worlds biggest pinch pennies so I understand why you don't want to lose oil.
That said, a few quarts of oil are very, VERY cheap compared to what a spoiled MB V8 would cost you. I really think since you already have the hose you should replace it.
BTW, the next time you have a hose like this leaking, you can save the cost of that lost oil and then some by simply going to an industrial hydraulic shop and having them replace the rubber hose. They can cut off the ferrule, reuse the fittings, cut new hose to length, put on and crimp in place the new fittings.