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Virgin oil is the most common type of oil used in lubrication products today, and sets the standard for oil quality. Virgin oil is crude oil that’s gone through the refining process, but hasn’t been used yet. Once you use it in your machines, it’s downgraded to used oil.
When it comes to recycling your oil, this refers to taking used oil and running it through a filtration system to remove any insoluble impurities. This won’t remove any chemical contaminants, but removing the physical ones can make it suitable to be burned as fuel or re-used in non-critical systems.
Reconditioned oil is a subcategory of recycled oil, where recycled oil is mixed with additives to help prolong its usable life. Reconditioned oil is typically only good for a one-time use however, and not suitable in automobiles.