Got a question for you. A couple of years ago, for the first time I fried the turkey in peanut oil, which isn't cheap. The result was fantastic, though, and well worth it. Following the directions afterward, I strained the peanut oil back into its container and stored it until the next Thanksgiving. I re-used the oil and afterward strained it back into the container again. My question is, how many times can I keep doing this? Does the oil ever go bad? Thanks much.
I am more concerned with how you are storing it.. Store canola, olive, and peanut oils in the refrigerator or in another cool, dark place. Select oils in light-resistant plastic containers or dark brown or green glass containers.