List of various diseases cured by Peanut Oil. Side Effects, Safe Dosage And Toxicity. Peanut oil is rich in vitamin E, an antioxidant that offers many protective benefits against chronic disease. It is speculated that peanut oil can cause allergies because of the allergens found in peanut. The allergy to peanuts is not rare. Names of Peanut Oil in various languages of the world are also given. Learn more about Peanut Oil uses, benefits, side effects, interactions, safety concerns, and effectiveness. Uses, Benefits, Cures, Side Effects, Nutrients in Peanut Oil. However, this study mentions that peanut oil does not lead to allergy in people who are allergic to peanuts. Peanut oil is the oil from the seed, also called the nut, of the peanut plant. Find patient medical information for Peanut Oil on WebMD including its uses, side effects and safety, interactions, pictures, warnings and user ratings. Drugs A-Z Pill Identifier Supplements Symptom Checker Diseases Dictionary Media; Slideshows Images Quizzes. How Peanut Oil is effective for various diseases is listed in repertory format. Peanut oil is not safe from criticism.