Both products olive oil and body lotion are great for moisturizing your skin. Your body skin naturally produces oils, but those can be lost via cleansing, and production can also slow down as you age. Olive oil can fill in, providing your body's skin with nourishment that it might have lost. For instance, lotions are usually a mix of oils and water, making them the best of both worlds for skin that’s in need of moisture and hydration.