In a pot, combine the rinsed rice, water, olive oil, and salt. Bring to a boil over medium-high heat.

Once boiling, reduce heat to low, cover, and simmer for 18-20 minutes or until the rice is tender and water is absorbed.

Remove the pot from heat and let it sit covered for 5 minutes.

Fluff the rice with a fork, then stir in the lime juice and chopped cilantro until well combined.