Cut the oranges into 1-inch chunks and place into a food processor. Add the oil and water and pulse until the chunks are gone and you have a slurry of fruity/oily water (it’s okay to add a little more oil and water if needed to get a slurry). Let the mixture rest in the food processor and pulse again every 5 minutes for an hour to loosen the flavor and break up the molecules.
Pour the entire mixture into a glass pitcher or large jar and let stand until the mixture separates into 3 sections: The oil will rise to the top, the solids will sink to the bottom and the water will be in between. Gently place the pitcher into the refrigerator and chill until the oil solidifies and can be easily removed by breaking it and lifting it out.
Put the oil in an airtight container and store, unrefrigerated, in a cool, dark place for up to 3 weeks. The rest of the liquid can be strained through a coffee filter-lined mesh strainer and used to replace the water when cooking grains.
For optimal taste-swooning, combine with the orange-infused vinegar and toss with greens. Or drizzle the oil on a watermelon salad with crumbled feta and black pepper.