Cook pasta according to the package directions. Drain well.
In the meantime, in a large skillet, add the olive oil and butter. Heat over medium heat until the butter is melted. Add the garlic to the pan and sauté for 1 minute. Add the reserved clam juice to the pan, bring to a simmer and cook until reduce by about half. Stir in the clams and the heavy cream. Season the sauce to taste with salt and pepper.
Portion out the pasta and spoon some of the sauce over the pasta and top with grated Parmesan, if desired. Serve immediately. Serves 4-5.