Using medium-grade steel wool, rough up the surface of the old oil paint. Completely stripping off the old finish isn't necessary. Take extra care to remove any rust, corrosion, flaking or blistering paint. Follow up by carefully buffing out any rough areas and wiping off the steel-wool dust with a dry, lint-free rag. You should wear eye protection during this step to shield your eyes from harsh, abrasive dust.
Sponge down the surface with trisodium phosphate (TSP) or a TSP substitute to eliminate any embedded grease that might prevent the next coat of paint from adhering properly. TSP is safe enough for use in small doses as a food additive, but it is an alkaline chemical, so you should wear a long sleeve shirt, gloves and eye protection. Rinse off the TSP with ordinary tap water, and allow the surface to dry.
Primers formulated for use on metal surfaces will bond firmly to the old paint finish as well as any bare metal. Unlike all-purpose primers, a metallic primer contains anti-corrosion additives that will protect the underlying surface from oxidation and help keep the surface smooth. The ideal metallic primer for indoor use will be a low-VOC alkyd-based paint designed for use under any type of topcoat. Apply the primer with a natural bristle brush or short-nap roller.
For best results, apply two coats of a premium-grade 100 percent acrylic latex paint. The paint will form a strong bond to the primer and fill any surface irregularities much better than a lower quality paint. Apply with a high-quality synthetic fiber brush or roller to avoid visible brush strokes. An acrylic latex will form a hard shell that can be easily cleaned with household cleaning products once the paint has cured, which will take about one month. The colors are less prone to fading over time, which means the new paint will hold up for many years of use.