actually the olive oil verbiage is more or less unregulated in the US. Basically it has nothing to do with how the oil is extracted (see below)
"International Olive Oil Council (IOOC). Most countries use the IOOC standards. The U.S. is one of the few major markets which has not adopted the IOOC definitions. Instead the USDA has a 1948 classification which uses terms such as "fancy" and "choice". "
http://oliveoilsource.com/definitions.htm
(
http://www.ams.usda.gov/AMSv1.0/getfile ... DEV3011889)
§52.1532 Grades of olive oil.
(a) U.S. Grade A or U.S. Fancy is the quality of olive oil that possesses the
typical greenish to light yellow color of olive oil; possesses a free fatty acid
content, calculated as oleic, of not more than 1.4 percent; is free from
defects; and is of such quality with respect to odor and flavor as to score not
less than 90 points when scored in accordance with the scoring system
outlined in this subpart.
(b) U.S. Grade B or U.S. Choice is the quality of olive oil that possesses the
typical greenish to light yellow color of olive oil; possesses a free fatty acid
content, calculated as oleic, of not more than 2.5 percent; is reasonably free
from defects; possesses a reasonably good typical odor; possesses a
reasonably good typical flavor; and scores not less than 80 points when
scored in accordance with the scoring system outlined in this subpart.
(c) U.S. Grade C or U.S. Standard is the quality of olive oil that possesses the
typical greenish to light yellow color of olive oil; possesses a free fatty acid
content, calculated as oleic, of not more than 3.0 percent; is fairly free from
defects; possesses a fairly good typical odor; possesses a fairly good typical
flavor; and scores not less than 70 points when scored in accordance with
the scoring system outlined in this subpart.
(d) U.S. Grade D or Substandard is the quality of olive oil that fails to meet the
requirements of U.S. Grade C or U.S. Standard.