Although extra virgin olive oil seems like one of those products you can keep around in your pantry for eternity, it does have an expiration date and it's sooner than you think. While at an event with California Olive Ranch, I learned I have been holding on to olive oil for far too long. The quality of extra virgin olive oil, meaning the taste and nutrition, is affected by light, heat, time, and oxygen. To avoid your bottle of olive oil going rancid prematurely, keep it stored in a dark, cool place in your kitchen away from light, the stove, and oven. The optimal room temperature is 60℉ to 72℉.
Unopened and stored in the proper conditions, olive oil will last about one-and-a-half to two years past the bottling date, so check your bottle for the "harvest date" and calculate the amount of time you have to consume or toss that oil. California Olive Ranch recommends using an opened bottle of olive oil within 30 to 60 days, as it begins to oxidize (like wine) once exposed to air. If that seems like a crazy-fast time to use up a bottle of oil, buy the smallest size possible. You can also write the "date opened" with a Sharpie on the label to keep tabs on when it's time to restock your supply.