The ideal temperature for storing olive oil is 57°F or 14 degrees C, although a normal room temperature of 70ºF works very well if the olive oil is stored in a dark area where the temperature remains fairly constant. A kitchen cabinet located away from the stove and away from direct sunlight will work quite well. If you have a wine cellar, store your olive oils there and keep a small amount in your kitchen. Do not put olive oil in a container without a tight cap.
Refrigeration does not harm most grades of olive oil, but it is not recommended for expensive extra virgin varieties because condensation may develop in the bottle, affecting the flavor. When chilled, or in cold weather, the oil may turn cloudy and even solidify. Such oil will clear again as it warms, so cloudiness should not be taken as an indication that the oil is part its prime. Be sure bottles are tightly sealed. Refrigeration will extend the life of olive oil without harming the oil. Doing so will cause it to congeal and turn cloudy, but should not affect flavor. If refrigerated, olive oil will return to its original, liquid state when warmed to room temperature again.