Deep frying usually needs 160 to 180 °C. A good extra virgin olive oil copes with that well, because its smoke point lies at around 180 to 210 °C. Its antioxidants also protect it from breaking down in the heat. In Spain and Greece, food has always been fried in olive oil.
Only very long deep frying above 200 °C is not ideal. For vegetables, fish or potatoes from the pan, olive oil is a good choice.