Details About Types of Olive Oils and How to Use Different Types of Olive Oil

Not all olive oils are created equal, according to Paolo Lafata, senior executive chef at Olive Garden. “Every grade has a distinct quality and flavor, making each suitable for different uses and cooking methods.”

• For dressings, dipping and marinades, Lafata recommends premium extra-virgin or extra-virgin olive oil. These oils are of the highest quality and considered to have the best taste. They come from the “first press” of the olives and are unprocessed. Drizzle over cold appetizers such as tomato and mozzarella caprese, crusty breads or cooked vegetables. However, these oils should not be heated. Because of their low acidity, warming these oils will create a loss of flavor.
 
• Flavored olive oils typically combine extra-virgin olive oil with citrus or various herbs and spices such as rosemary, garlic, peppercorns, parsley, oregano, hot peppers, thyme or basil.
 
• For high-heat cooking methods such as sautéing, pan-frying or broiling, use virgin olive oil. Also unprocessed, it has a slightly higher acidity level than premium or extra-virgin olive oils.
 
• Because of its high burning point, pure olive oil is ideal for deep-frying. It is a blend of refined and virgin olive oils and is the most common of olive oils, often used to add flavor and coloring.
 
• Commonly used for baking, light olive oil is not a quality grade nor does it have anything to do with calorie count. The term “light” refers to the oil’s color and mildness of flavor. 


Why use olive oil? Olive oil has a high percentage of monounsaturated fat, which is healthier than the polyunsaturated fats found in corn oil and saturated fats in butter. Because olive oil is vegetable based, it is cholesterol-free. It is also rich in vitamins A, B-1, B-2, C, D, E and K and iron.

Best Regards

Quoted From : http://recipehut.homestead.com/olive-oil.html

Extra Virgin Olive Oil :
Flavorful, extra virgin olive oil for dishes that do not require high heat. Use it in salad dressings, in marinades, or add it to sauces. Drizzle on a slice of crusty bread, baked potato or add it to mashed potatoes, cooked vegetables or brush on fish or meat instead of butter before serving.

Fine Virgin Olive Oil :
Has great taste and aroma, use virgin as a condiment or as an addition to cooked dishes before serving. Reasonably priced, use it for high-heat cooking such as sauteing, pan-frying, or broiling or use it when baking bread.

Olive Oil :
Since cooking causes all grades of olive oil to lose flavor, it may be more cost effective to use olive oil for cooking rather than the more expensive fine virgin olive oil. The refining processes also help to increase the smoke point to about 410-F making regular olive oil very suitable for high heat cooking and olive oil retains all of its healthy properties and brings out the true flavors of the food.

Lite Olive Oil :
Has a high smoke point and a subtle flavor and can be used for any type of high-heat cooking method, use it as a substitute for butter or other oils when baking breads and desserts. With its subtle flavor, the oil will not overpower the flavor of the baked goods. Less olive oil is required than butter or margarine for baked goods. Three tablespoons of mild or light olive oil can be used as a substitute for recipes that require a quarter cup of butter.

Best Regards
Umair

And Also Check this :
http://www.oliveoilsource.com/definitions.htm
&
This one :
http://www.explorecrete.com/nature/olive-oil-types.html

sorry for poppping up this thread but i think it is the best to quote seprately for better understanding ...

Best Regards
Umair

i  disagree   that  extra  -virgen   olive  is  not  good  for  pan-frying  and  high  heat  cooking  i  use  carbonell  extra  virgen  olive  oil  first  cold  pressed   and  i  have  no  trouble  with  it  it  suits  me  the  best  i  have  tried  many  varietys  of  olive  oils  but  i  find  the  carbonell  e.v.o.o.  the  best  it  retains  flavors  in  pan  fry  cooking   and  i  find  it  numero  uno  of  the  olive  oils  i  have  alpha  thalassemia  minor   and  schizophrenia  too  its  carbonell  for  me  adios  amigos

I think the key to frying with olive oil is keeping the heat low so that the oil doesn't smoke. It may take more attention when cooking but it is a much better cooking oil than the more commonly used oils.