Heat oil in a medium saucepan over medium heat. Add rinsed rice and toast, stirring, until slightly translucent, about 2 minutes.

Add water and salt. Bring to a boil, cover, and reduce to low. Cook 18 minutes without lifting the lid.

Remove from heat and let sit, covered, 5 minutes. Fluff with a fork.

Stir in lime zest, lime juice, and cilantro. Taste and add more salt or lime if needed.