Preheat oven to 350 degrees. In a large bowl, beat olive oil, sugar, and eggs for 2-3 minutes. Add in whole milk, vanilla, and almond extract and mix well.
Fold in flour, baking powder, baking soda, and salt. Mix until combined.
Spray a 9-inch cake pan with non-stick cooking spray. Place a parchment paper round on the bottom of the pan. Pour batter into the cake pan.
Bake for 28-35 minutes or until baked in the center. Remove from the oven and let cool for 10 minutes before removing. Run a knife along the side of the cake pan. Flip cake onto a cooling rack.
In a microwave-safe bowl, melt honey in the microwave for about 20 seconds or until runny. Pour over the cake and spread it all over.
Serve with fruit, fresh whipped cream, vanilla bean gelato or ice cream, or sweet mascarpone.