Peanut oil will keep for four to six months after being opened and can be reused many times during that period. Peanut oil can keep for up to one year if it is stored in the refrigerator.
Peanut oil, like olive oil, is high in monounsaturates and will benefit from storage in the refrigerator. If you are unsure of how long your peanut oil has been stored, smell and taste the oil before using it. Even a small amount of rancid oil can ruin a dish.
Peanut oil is used by many chefs for high-temperature cooking methods, such as frying. It has a clean taste, high smoking point, and is resistant against spoiling. It also does not absorb flavor from other foods, which makes it preferable to use and reuse for frying.