Add the olive oil to a deep skillet over medium heat and heat until shimmering. Add the rice and cook for 3-4 minutes, stirring often, until rice starts to look slightly toasted on the edges.
Add the onion powder, garlic powder, paprika, cumin, tomato bouillon, and tomato paste. Stir to combine and cook for 1 minute more.
Pour in the chicken broth and bring to a boil. Reduce heat to a simmer, cover the pan, and cook for 15 minutes over medium-low heat.
After 15 minutes, turn off the heat and leave the pan covered on the stove for 10 minutes.
Remove the lid and fluff the rice with a fork. Taste and season with salt, if needed.
