It can be! From a nutritional perspective, vegetable oil contains about the same amount of saturated fat as extra virgin olive oil (EVOO). The rest of the fat is split pretty evenly between monounsaturated and polyunsaturated fat. They also heat with similar smoke points, so their cooking uses are easily interchangeable. EVOO offers a different flavor profile in certain finishing applications like salad dressing, whereas vegetable oil has a more neutral taste.