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yes, the bigger the temperature swings and the more exposure to oxygen, the faster the oil degrades. I've found it lasts about 8 months with poor management. I save spent oil and use it as lubricant around the homestead. This winter, I'm going to experiment with making sawdust logs with the spent oil to burn in the rocket mass heater so at least I can get a little extra heat for the house out of it.
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Have you noticed if the oil degrades with heat? How do you know when to change it?