Just to add a little info from Spain, Olives do well in very hot dry weather here, all are planted in full sun, they can take the 30-40C weather in full sun no problems especially once established though probably will need watering during the first few years. Although we do get hot summers we also get cool winters where night temps can easily be around 5-7C for a couple of months, which is the chil that the olives need to bare fruit.
Good luck with your trees.