Adjust an oven rack to the middle position and preheat the oven to 325F.

Toast the peanuts in a 12 inch skillet over medium heat, stirring constantly, for 2-3 minutes until the peanuts are a light brown and smell fragrant.

Stir in the oats and oil and continue to toast until the oats are a light golden brown (about 2 minutes).

Remove from the heat and then stir in honey, peanut butter, and salt until oats are well coated.

Spread oats on a baking sheet in an even layer.

Bake in the oven at 324F for 15 minutes, stirring occasionally, until the oats are a nice golden brown.

Remove from the oven and stir the granola, clumping it together.

Let the granola cool to room temperature, about 30 minutes.

Loosen the dried granola with a spatula, break into small clusters, and serve.

You can store granola in an air tight container for up to a week.