Rinse the rice under cold water until the water runs clear.
In a saucepan, bring water to a boil. Add rice and olive oil, then reduce heat to low. Cover and simmer for 18-20 minutes, or until rice is tender and water is absorbed.
Remove from heat and let sit, covered, for 5 minutes.
Fluff the rice with a fork and stir in lime zest, lime juice, cilantro, and salt. Serve warm.