This study focuses on investigating the effect of various solvents on the supercritical extraction of organic matter from Moroccan oil shales, with the goal of determining the optimal operating conditions that result in a high yield of high-quality oil rich in aromatic compounds. The results of this study demonstrate that the extraction yield and quality of the extracted oil heavily depend on the chosen operating conditions for supercritical or subcritical extraction of organic matter from oil shale. Additionally, the study found that phenol can effectively degrade oil shale and enable extraction of nearly all the organic matter, even under mild conditions (T = 390˚C, P = 1.2 MPa, Time = 2.5 h. Furthermore, the oils obtained through this extraction process are of high quality, with a rich content of maltenes, and a higher concentration of aromatic compounds and lower levels of sulfur than those obtained using other solvents.