Wow...some answers are chocked full of non-scientific opinions. Let me enlighten you on this topic. First it DEPENDS on your oil and your filter. All oils ARE NOT the same. You have conventional and synthetic and they are different for EVERY manufacturer...the additive packages that each manufacturer utilizes varies from one brand to another and they are NOT equal by any means. Oils have additives in them which do a myriad of different things. These additives cost $$$$$ so many conventional oils have varying amounts of these additives. Remember the companies are in business to MAKE money for the stockholders...period....NOT to keep your car running for you forever! These additives are typically acid scavengers, viscosity modifiers, surface modifiers, surfactants etc. Depending on your driving habits, speed, duration, acceleration etc those additives will wear out. Some oils quicker than others. Note that, typically, more additives are not necessarily better! It is the combined synergistic affects that provide you with the overall net result. Most European manufacturers allow 1 year oil changes in their autos with specific oil manufacturer synthetic oils and specific filters. Unfortunately the US lags behind in telling its citizens to move to longer oil change periods.....due to oil companies making HUGE amounts of money off of the "3 months or 3000 miles" advertising jargon ( and I mean JARGON) that has been ingrained in our minds. They would lose hundreds of millions of dollars in profits if people stopped doing the 3 month/3000 mile change and moved to 6 month or longer. Why do you think they advertise that still.... when Europe is on a 15k mile 1 year standard already??? American consumerism and advertising misinformation at its finest!!! You have noticed auto manufaturers moving towards 6 months/6k miles or even longer in some instances. Not only is this environmentally friendly but it makes sense from a chemistry standpoint also.
Filters are another issue also. Cheaper filters do not filter out smaller size particles which will damage your engine. Most filter manufaturers will NOT publish their filter's efficiency and performance standards as many are DISMAL at best! There are several that will publish their findings to the consumer like Wix, Amsoil, K&N etc. Basically it is a trade off....the better the filtration of smaller particles means higher pressures and slower filtration so a good filter must be made of quality materials to withstand the increased pressures as well as special coatings and manufacturing processes on the membranes themselves to provide optimum filtration. Inexpensive $3 filters don't have this technology! So filters will only withstand a certain period of time prior to clogging or the membranes will fail which means the oil will no longer be filtered.....so particulates will run free in your engine doing enormous damage to bearing surfaces and the like. Good companies will test their filters and can tell you in writing that this filter is guaranteed for XXXX miles to perform its filtration without failure.....If you don't get that then don't buy it!
Now that outlines some of the variables that you have to deal with. Your driving habits, speed etc will play into the additive life in your oil....How do you know what additives are left? Have your oil tested. They will provide you a report as to the amt and types of additives left in your oil as well as metals etc from bearings and related surfaces going bad. The report will tell you if the oil can still be used or recommend replacement. It will outline what they find such as water, gasoline, viscosity of the oil, copper, iron, zinc etc. All those numbers can be compared to the original oil in its new form that you used.....the report is kind of like a gas gauge for your "oil life". There are oils and filters that will go 15k/1 year intervals with out a change and by doing nothing more than testing at six months for the additives and adding any oil to keep the level topped off. The technology and the science has been around since the 70's to do this but it is not something the oil companies want to hear!
BTW oil color is not an indication of when your oil needs to be changed! Be aware that some oils....like a 10w-30 non synthetic and even some synthetics will not hold their published viscosities very long in your engine. You will be very surprised to learn that many 10w-30s and related will not be 30 weight very long. Most will drop quite quickly to 20 weight or lower from the shear and thermal oxidation decreasing protection that you bought and thought you had! Some of the best oil on the markets: Amsoil synthetic ranked #1 followed by Mobil synthetic....most others are not even close to these two and Amsoil is better than Mobil in several performance areas according to ASTM standardized testing.......NOT my or anyone elses OPINION. Science says it all via the standardized testing! Eventually your oil will lose its additives and your filter will clog or the membrane will rupture BUT there are long life, excellent oils and filters out there that will provide you with options if you like! Eventually, you will have to change both at some time.