Whether or not you choose to refrigerate your Olive Oil is entirely up to you. Though not necessary, it will not hurt the product to be refrigerated.
Otherwise healthy oils can turn rancid when stored exposed to heat, air and light, so it’s important to know how to store them properly. The higher monounsaturated fatty acid (MUFA) content of olive oil, at more than 73%, makes it more shelf-stable than polyunsaturated fats but less so than saturated fats. Olive oil stored properly (at room temperature, in a dark pantry and/or a darkened bottle) should be safe and stable for up to two years. UC Davis’ Olive Center produced a scientific review in 2014, stating that “to maximize shelf stability the ideal packaging material would prevent light and air penetration, and oils would be stored in the dark at 16-18°C (61-64°F).”
If you tend to use your olive oil quickly or you live somewhere with a cooler climate, you shouldn’t need to refrigerate it. But if you buy it in large quantities, go through it slowly, or live somewhere with a warmer climate, keep the bulk of your olive oil in the fridge and, if you so choose, keep a small supply in a darkened glass bottle for quick access. Know that if you choose to keep your olive oil stored in the fridge, that it may likely go cloudy; a few minutes at room temperature should help revert it back to its natural state.