The smoke point is the temperature at which an oil visibly smokes and starts to break down. For high quality extra virgin olive oil it lies at around 180 to 210 °C. Frying usually needs 160 to 180 °C. On top of that, the antioxidants in the oil keep it stable in the heat.
That is why olive oil is the most versatile oil in the kitchen: for gentle frying, as a base for sauces and marinades, and raw over tomatoes, over bread, over a simple salad. Provided the quality is right.
