Olive oil has three enemies: light, heat and oxygen. It is happiest at 14 to 18 °C in a dark cupboard. The spot right next to the hob or on the windowsill is too warm and too bright. Always close the cap well after use.
An opened bottle tastes best in the first few weeks. That is why it pays to choose a size that suits how much you use. Olive oil does not need to go in the fridge. It only turns cloudy there.