Pour the oil and popcorn into a heavy deep pot. Place over medium heat; cover and shake, moving the pot constantly. Continue cooking the popcorn until the popping slows down, about 3-4 seconds between the pops. Pour into a medium size bowl.
Melt the butter in a small pot; add the hot sauce and simmer for 2-3 minutes.
Stir the Buffalo butter over the popcorn and mix until the popcorn is coated. Garnish with the fresh chopped chives and enjoy.