One of the reasons some carry olive oil is as a multi use item.
Obviously it adds taste and calories to food but can also be used as a fire starter (dip some cotton /wool/paper in it and light it) as a skin soother (if you burn yourself apply plenty of cold water then when the skin has cooled down, apply the oil) as a lubricant , can be used over bee stings , as ear wax softener (slightly warm,NOT HOT...) also with ear aches, as skin moisturizer, as a mild laxative.
BTW, I am not a doctor...
Franco