To a skillet, add the oliveoil and the red pepper flakes.
Set the heat to low and let fry very gently for 3 to 4 minutes, occasionally moving the pan around. Make sure the red pepper flakes don't burn. If they start burning take the pan immediately off the heat.After about 3 minutes, turn the heat off and add the paprika. Move the pan around to dissipate heat and distribute the paprika.
Let cool down off the heat for about 10 minutes before using the chili oil.
Drizzle on anything you like, from pasta to pizza, veggies, tofu, and much more.