What does "extra virgin" mean in the oil world?

Extra virgin olive oil - as opposed to regular oil - is non-refined, meaning neither heat nor chemicals are added during its processing.  This retains its aroma, nutritional value and its low oleic acid content. According to the experts (Sciabica Olive Oil Company), the true definition of extra virgin is:  "Extra Virgin is a classification including cold pressing, low free-fatty cid and what’s called "perfect flavor."