All olive oil bread is is white bread with some olive oil brushed on top. It's kind of like a fancy italian bread. It's still bread and still has a very high glycemic index.
I mean, having a slice of bread once a week on your cheat day - it's not going to kill you.
However, for optimal fat loss, bread isn't something you want to incorporate in your regular diet. Bread had a very high GI index.
The key when choosing carbohydrates is to choose low GI carbohydrates. Those will raise blood sugar the slowest.
For example, white rice has a much higher GI index and will raise blood sugar much faster then brown rice. White rice has the hull of the rice bran removed which makes it digest much faster. Brown rice is unprocessed and contains the whole rice grain. Brown rice contains more fibre and is slower digesting and will raise blood sugar much slower as a result.
The best carbohydrates to base your diet around are brown rice, oatmeal, quinoa, and sweet potato. Along with fruits and vegetables of course.