Lipids are diverse category of naturally occurring molecules that make up fats, oils and waxes. Lipids are used for long term energy storage. Lipids are made up of many carbon, hydrogen and only six oxygen.
Fats are saturated lipids, with maximum amount if H atom, no double bonds, also called animal lipids and it is solid at room temperature. Oils on the other hand, are unsaturated lipids, with less than maximum H atoms, with at least one double bond, also called plant lipids and it is liquid at room temperature.