Light Olive Oil is actually the name of a particular grade of olive oil. It is Virgin Olive Oil that has been refined, and as a result, it has a very light color and not a lot of flavor. These attributes are actually where the name comes from. In the bulk industry, the same product is referred to as ‘Refined Olive Oil’ instead of ‘light’.
No matter the grade, olive oil has the same caloric content (120 calories per tablespoon). In conclusion, Light Olive Oil is not a low-fat or low-calorie option. Rather, the word ‘light’ describes the color and flavor.