I agree with ChefLayne, dried herbs can be much stronger than fresh ones. Absolutely true for bayleaves, thyme, oregano, savory etc.
I have a laureltree (my personal bay leaf producer) in a large pot since decades. I use fresh leaves, but the tree gets shaped every year, so I dry some. After the drying process they taste and smell so much stronger than the fresh ones.
Also, I make a lot of flavored vinegars instead of oils. I had bad experiences with oil. Vinegars can be used in so many dishes and sauces, and... these vinegar only get better and less acidic, even after many years aging, especially true for tarragon vinegar which is used for béarnaises etc.
I now have (white) vinegars in which I macerated rose petals (to be used in couscous etc.), elderflower (totally delicious in vinaigrette but also in hot sauces), tarragon (to make béarnaise etc.), red basil, rosemary, etc.
You could certainly macerate bayleaves in vinegar. In this case I would use fresh ones. They will give a color to the vinegar and have a less pronounced taste.
On the other hand, if I had to make bayleaf flavored oil, I would use dried bayleaves to avoid mold etc.
My last experiment is white vinegar macerated with fresh normal basil. Unusually, I changed the leaves a few times to get more flavor into the vinegar. (Red basil works better!)
Mostly I filter after 2-3 months of macerating. Except for tarragon where the herb stays in, no matter how many years you keep it.