of course you can… it's not forbidden but useless and more expensive. It becomes a glue that collects dust and particles, does not lubricate and makes it all sticky. Moreover add to this that the olive oil in that way becomes rancid and smelly. read more
olive oil lubricates fairly well and also cleans the chain from crud and dirt. olive oil does penetrate fairly well and reaches all recesses of the chain, eliminating squeaking noises effectively. olive oil has very modest stickiness and will be centrifugated away from the chain very quickly. read more
At high speed, an expensive, virgin, olive oil can make your bicycle smell much better for the following traffic. – user unknown May 11 '11 at 19:58 1 When cooking oil goes bad, it smells bad. read more
Olive oil is usable but with some side effects. It will work when it comes to keeping the rust away but will easily attract dust to the links of the chain. read more