Rinse the rice under cold water until clear.
In a saucepan, heat olive oil over medium heat.
Add the rinsed rice and toast for 2-3 minutes.
Pour in the water or broth and add salt and pepper.
Bring to a boil, then reduce heat and cover.
Cook for 15 minutes until liquid is absorbed.
Remove from heat and let sit covered for 5 minutes.
Fluff with a fork and stir in lime juice and zest.
Fold in chopped cilantro and adjust seasoning.