Combine the rinsed rice, water, and olive oil in a pot and bring to a boil. Cover, reduce the heat, and simmer for 15 minutes, or until the liquid is absorbed.
Remove from the heat and let it sit, covered, for 10 more minutes. Fluff with a fork.
Notes
This rice to water ratio also works in a rice cooker using the white rice setting. If you're using a rice cooker to cook your rice, skip the olive oil.