Both hemp oil and CBD (cannabidiol) oil come from the Cannabis sativa plant, but from different strains. Like different varieties of roses, the various strains of Cannabis sativa possess unique properties and contain different amounts of the cannabinoids tetrahydrocannabidiol (THC) and cannabidiol (CBD).
THC is the primary psychoactive constituent of Cannabis (ie: the part that gets you high), whereas CBD is not psychoactive and possesses powerful medicinal properties.
Hemp oil is derived from the seeds of a strain of Cannabis sativa that has extremely low counts of THC and CBD, whereas CBD oil comes from the flowers, leaves, and stalks of a strain low in THC and high in CBD. Because of their negligible THC content, neither hemp oil nor CBD oil cause euphoria or other psychoactive effects.
Much like the oils derived from coconuts, almonds, and olives, hemp oil has various uses and is rich in nutrients, including omega-3 and omega-6 fatty acids, vitamin E, potassium, magnesium, vitamin B1, and vitamin B2.