A continuous oil fryer used to fry food slices, such as potato chips, having an internal oil stripping capability. The fryer accumulates the steam produced by the frying process in a hood and utilizes such steam, after superheating the steam by passing it through a heat exchanger, to strip oil from product immediately upon removal from the hot oil bath by passing the superheated steam through a product bed while on an output conveyor. The superheated steam removes oil from the product on the output conveyor without increasing the moisture level of the product. The fryer therefore accomplishes the same function as a low-oil stripper without increasing the footprint of the frying unit and with less energy.