Olive oil is generally classified by the level of free acidity in terms of free oleic acid. The classification must also meet certain organoleptic criteria in terms of taste and aroma. Free acidity level per se is not a criterion for quality but when paired with peroxide level, they are complementary to the organoleptic characteristics. Olive oil can be conveniently classified as follows:-
Virgin Olive Oil
Refined Olive Oil
Olive Oil (Pure Olive Oil)
Light Olive Oil is obtained when the ordinary olive oil undergoes a fine filtration process. It is lighter in colour and aroma, and contains the same calories with other regular olive oil.
There is another type of oil called Olive-Pomace Oil. Pomace is the leftover pulp of olive fruits after processing. The remaining oil in the pomace is extracted using chemicals and further blended with virgin olive oil. Olive-pomace oil is not recognized (and not to be confused) as olive oil.