In a medium bowl or shallow dish, combine withe olive oil, balsamic vinegar, green olives, parmesan cheese, garlic, oregano, red pepper flakes, salt, and pepper.
Let it sit at room temperature for a couple of minutes, and serve with your favorite bread!
Notes
Vegan: Remove the Parmesan cheese to make this dipping oil vegan.
Prep: You can prepare this ahead of time and store it in the fridge. Bring out to room temperature before serving.
Storing: Store in an airtight container in the refrigerator for up to 5 days. The olive oil will solidify in the fridge, but just bring it out to room temperature a little bit before serving.