Apparently, winters need to get down to a certain temperature in order for olive trees to produce olives that are worth harvesting for oil. Last winter did not reach this level, and it looks like this one won't either. (But don't worry, global warming is still fake!)
Anyway, I would expect the price of olive oil to go way up in the near future. So, even if you no longer need to dip your bread into it, you might want to load up on olive oil right now.