First of all, it can be expensive. Plus, it has a relatively low smoke point, which, according to food scientist Harold McGee, is the "temperature at which a fat breaks down into visible gaseous products." That breakdown can ruin the taste of foods.
Quality extra virgin olive oil is an especially healthy fat that retains its beneficial qualities during cooking. The main downside is that overheating can adversely impact its flavor. However, olive oil is quite resistant to heat and doesn't oxidize or go rancid during cooking.
Myth: Olive oil produces carcinogens when it's heated. Fact. What's true is that when any cooking oil is heated to the point where it smokes (its smoke point) it breaks down and may produce potentially carcinogenic toxins. Different oils reach their smoke points at different temperatures.
The answer has to do with the oil's smoke point.
Countless cookbooks and TV chefs have warned us of the dangers of cooking with olive oil—especially extra-virgin olive oil—over high heat. The oil's smoke point is too low, they say, just 375 degrees (and not much higher for refined olive oil), and smoky oil is bad news.
Use olive oil to stir-fry or sear a steak.
Though it's nice to have two oils (one for cooking, such as canola oil, and one for finishing, such as extra-virgin olive oil), here's a secret: We use extra-virgin olive oil for high-heat applications, too. And it's completely fine.
Because of its higher smoke point, olive oil can be used for cooking at higher temperatures than extra virgin varieties (but not as high as butter or margarine). For any cooking higher than 350-415 degrees Farenheight, you'll want to use standard olive oil.
Which Should I Buy? Typically, olive oil is a safer bet when cooking because of the higher smoke point and neutral flavor, and extra-virgin olive oil is ideal for a flavorful dressing, a dip for bread, or a last minute pour over a cooked piece of meat. However, this is entirely a matter of preference.
Out of all the different kinds of olive oil available in the market, extra virgin oil is not recommended for cooking.
Use extra virgin olive oil for cooking, in all its varieties. Properly store olive oil, in a dark and tight environment. Start the process by heating the oil over low heat. Put the food in when it reaches the right temperature for frying.
The healthiest oils are those that are high in monounsaturated and polyunsaturated fats, such as vegetable oil and olive oil. These types of fats can help lower your risk of heart disease when used instead of saturated fats.
The oils which should be avoided for cooking are oils like soybean, corn, canola, sunflower, and safflower. These oils have unstable fats and will decimate the nutritional properties of your food.
Monounsaturated Fats
According to MayoClinic.com, consuming MUFAs improves your blood cholesterol levels, reduces your risk of heart disease and may help stabilize blood sugar levels. Foods high in monounsaturated fats include olive, canola, sunflower and sesame oils, avocados, pecans, almonds, salmon and herring.
Heart-healthy oils like canola, corn, olive, peanut, and sunflower oils contain monounsaturated and polyunsaturated fats. They help to lower harmful low-density lipoprotein (LDL) cholesterol and raise healthy high-density lipoprotein (HDL) cholesterol.
Choose plant-based oils rich in unsaturated fat.
The heart association suggests the following cooking oils, which meet its health standards: canola, corn, olive, peanut, safflower, soybean and sunflower, as well as specialty oils like avocado, grape-seed and sesame.
The healthiest type is extra-virgin olive oil (EVOO). It can help lower your blood pressure and fight inflammation. It lowers your risk of heart disease by improving the health of your blood vessels and preventing blood clots. EVOO is also loaded with antioxidants, which ward off cell damage.
Extra virgin olive oil is the most stable oil to cook with and can be heated as high as 400 F (deep frying occurs at 350-375 F). Even when heated past its smoke point, virgin olive oils produce low levels of harmful compounds due to the high antioxidant content in the oil.
Omega-6s are found in oils such as corn, safflower, sunflower, soy and vegetable and products made with those oils. Excess consumption of omega-6s can trigger the body to produce pro-inflammatory chemicals, and the American diet tends to be very high in omega-6s.
Some of the world's top celebrity chefs agree that choosing to use genuine extra virgin olive oil in your cooking is a great way to guarantee quality of flavour in your dishes. It is an extremely versatile cooking ingredient and can be used on salads, as a dip, for roasting or for adding finishing touches to hot food.
Extra virgin olive oil has a smoke point around 375° Fahrenheit, which is low compared to many other common cooking oils like canola oil, coconut oil, and avocado oil. A refined or light olive oil will have a higher smoke point than an extra virgin oil, and would be the best choice for frying in olive oil.
Olive oil actually has a relatively high smoke point and is a safe, reliable option for frying. On top of that, it is one of the healthiest cooking staples around. Olive oil has been named “the healthiest fat on Earth,” in part because of its unique ability to reduce the risk of heart disease.
Yes, you can fry chicken in olive oil. USDA experts have stated that it's safe to fry with olive oil (extra virgin olive oil), but they don't recommend frying with butter or coconut oil.
The flavor compounds in olive oil are delicate and will evaporate when heated. Heating olive oil does not damage the health benefits but it will make the olive oil lose some flavor. Some people consider this to be a good thing as they do not want their foods to taste like olive oil.