In a medium saucepan, bring water or broth to a boil. Add rice, olive oil (or butter), and salt.

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 rice with a fork, then stir in lime juice, lime zest, and chopped cilantro.

Serve as a side dish with your favorite Mexican or grilled meals.