After becoming a tropical storm again, the thunderstorms organized into a rainband about 100 mi (160 km) away from the center, characteristics more typical of a subtropical cyclone. By late on December 2, the structure resembled that of a hurricane with an eye in the center, and although convection was weak, Olga was able to intensify further to winds of . At the time, there was uncertainty whether the storm would strengthen further, possibly to near hurricane status, or rapidly weaken. Ultimately, an approaching trough caused weakening by increasing wind shear, while also forcing the storm eastward. On December 4, Olga again weakened to a tropical depression as it lost most of its convection. Later that day, the circulation turned to the southeast as a ridge built to its north, and Olga degenerated into a remnant low pressure area, about east of Nassau, Bahamas. The remnant circulation turned to the south and west, completing a loop and later moving through the Bahamas before dissipating along the north coast of Cuba on December 7.