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Olive oil. A glass decanter of olive oil with a bowl of olives and leaves from the olive tree. Olive oil is obtained from pressed fruit of the olive tree, cultivated since early times. It is a popular ingredient in food recipes and is used in cooking. The highest quality oils (virgin or extra virgin), made from crushing olives under their own weight, are used in dressings. High in monounsaturated fats, olive oil is a healthy alternative to oils and butters containing saturated fats and which are now known to affect blood cholesterol and contribute to heart disease.