Exactly, and it's best not to store olive oil in the fridge. Storing you oil in a dark coloured glass bottle is a good bet tooAndy M. said:Yes it does. Depending on storage conditions and age, any vegetable oil can and will become rancid. If it smells/tastes bad, that'st usually the problem.
Store olive oil in a cool dark place such as a cabinet away from heat sources such as the stove/oven and dishwasher.