Heat the olive oil in a saute pan over medium heat. Add the onions and saute until softened, 8 to 10 minutes. Let cool.
In a mixing bowl, combine the ground turkey, rolled oats, eggs, 1/2 cup of the ketchup, Worcestershire sauce, tomato paste, salt, pepper and some hot sauce. Add the cooled onions. Mix together with your hands.
Place the meatloaf mixture in an 8-by-4-inch loaf pan, pressing down until flat and level. Spread the top with the remaining 1/4 cup ketchup.
Bake until the meatloaf reaches an internal temperature of 165 degrees F, 50 to 60 minutes. Let cool for 5 minutes before serving.