Fair enough, but I don't recall ever seeing that on a bottle of olive oil.

Because the word "blend" it has a definite and not necessarily negative meaning for Scotch but it is definitely not the case for Olive Oil.

http://www.centrafoods.com/products/oils/blends

Well, it may nevertheless contain grain alcohol. They're trying to match a flavor and nose, not trying to use the same proportions of everything each time.

Premium blended scotch is an oxymoron though.