Olive oil is a fine choice, as are canola, safflower, peanut, and sunflower oils. Olive oil is rich in tradition and history compared with canola. You can, of course, buy olive oil that's nearly flavorless. Taste is a personal issue. This is almost impossible to calculate, even for a nutritionist.
All vegetable oils are pure fat, and all are combinations of saturated and unsaturated fatty acids.
Fatty acids vary in their degree of saturation and in the length of their molecules. Saturated fats carry all the hydrogen atoms they can hold. Such fats come chiefly from animal sources, such as meat and whole milk. Saturated fats are usually solid at room temperature. Unsaturated fatty acids are missing some hydrogen atoms, and are liquid at room temperature.