Because this is in the oil analysis folder I am going to initially assume that you are talking about removing bubbles from oil samples and I will give my answer to that first.
1. We currently use and ultrasonic bath with water in it to remove bubbles in samples bottles. This is similar to what jewelery stores use to clean jewelery. It has a heating element in it to warm the water.
After we agitate a sample, we place the bottle in the 'bath' for about 30 seconds to force the bubbles to rise to the surface of the bottle. This ensures the bubbles do not throw off the particle count mechanism.
2. If you are referring to bubbles in oil on a machine/reservoir, then it is a different answer. What is the application? Is it a reservoir that can be baffled and a diffuser installed to the inlet?