Extra virgin olive oil is loaded with heart-healthy fats and antioxidants, making it a great addition to a nutritious diet. It has also been linked to a long list of benefits and may protect against inflammation, heart disease, breast cancer, and type 2 diabetes. From a technical standpoint, acidity is one of the most important criteria for distinguishing extra virgin olive oil from virgin olive oil. Olive oil is considered extra virgin if it has a free fatty acid level of 0.8 percent or lower. Virgin olive oil has a fatty acid level of between 0.8 percent and 2.0 percent.