In a medium saucepan, combine the rice, 2½ cups water, the vegetable oil, and the salt. Bring to a boil over high heat. Reduce the heat to low, cover, and cook until the liquid has been absorbed, about 20 minutes.
Remove the lid and fluff the rice using a fork. Stir in the lime zest, lime juice, and cilantro. Turn off the heat and let the rice sit on the hot stove for another 2 to 3 minutes before serving.
