Yeah that looks the one. You might find that you be as well changing the oil after a flush. If it’s not working and doing what you described you likely have other problems. It should be a sealed system so doesn’t normally loose oil. Are your rams leaking ?
If not and there is enough oil in there, the ball valves on the pump may be Passing. Or you have water and or air in there.
I’d crack open both fill and drain/vent screws and see what comes out. Take it from there. The oil is really cheap.