Many oil change places run it into a heating oil burner and use it to heat the shop in the winter where it's legal.
The oil reclamation service takes it to the nearest multifuel elec power plant and they burn it in their boilers.
Once the chemically synthesized detergent, friction, and mutiweight chain modifiers are broken down, it basically becomes useless and hazardous waste. You can't filter out the fuel contaminants in the oil, they are tiny little sharp edged molecules smaller than the actual oil molecules. Many of these tiny molecules are from the broken multiweight chain modifiers in the oil. They shrink like a spring when cold and stretch like a slinky when hot to simulate multiweight oil. Without them you would have to use straight weight oil and change it to the seasonal temperature variables. Multweight oil basically becomes water thin when the temperature modifiers degrade.
Heating up the old oil will just further break it down.
There are lots a ways to save a nickel. This is not one of them. Change your own oil. Buy oil when it is on sale (sometimes cheaper in the 5 qt container). Find out from your car dealer how often to change your oil. Don't change until then. But changing your oil with good oil is so important to the life of your vehicle making up stuff as you go would be foolish.
Like the other guy says - Engine oil doesn't wear out, it just gets dirty. There have been several commercial attempts to clean used oil to the point it could be used again, but all have failed. The reason they failed wasn't that they couldn't do the job, it was because the cleaned oil ended-up costing more then new oil, so it wasn't profitable. It's a good idea on paper, but it just isn't feasible in the real world.
You would do more damage to your engine.
Just get a oil change.
Just have the number 911 memorized so you can call the fire department.
Leave the trolling to fishermen.
Oil doesn't wear out it gets contaminated. Filters can take out solids, but acids, I burned fuel get in the oil. It needs to be re-refined to be any good. That's what recycled oil is.
I want to save money on motor oil for my car. Is it possible to drain out the old oil and boil it on my stovetop to make it new again. Is there anything I would have to add to the pot to enhance the old oil?