It's not about the direction the opening faces when talking about draining. Try this experiment to show the concept or idea. Take a hose (or some tubing), hold both ends at the same height, and fill it up with water until the entire tube is full. Now with both openings facing up, lift one end of the hose while holding the other in place. What happens? The water drains out the lower end even though the opening is facing up. In a line, while there is liquid at a higher elevation (thus pressure) than the lower opening it will flow out that opening regardless of the opening direction.
The same thing happens in an engine. Oil that is still in the supply line up towards the top of the engine will be pulled down backwards through the oil filter (if there's no check valve) and into the oil pan (lowest opening). With a check valve it will not let the oil flow backwards and keeps it "primed" in the supply line. If it's "primed" in the line then that line doesn't have to fill with new oil once you start the car.