Place rice in strainer and rinse under cold running water to remove excess starch.
Combine rice, water, salt and oil in 3-quart saucepan.
Cook over medium-high heat until water boils.
Reduce heat to low, cover and simmer until rice is tender, 15 to 20 minutes.
Remove from heat; let stand 5 minutes.
Uncover and fluff rice lightly with fork.