Rinse the brown rice thoroughly under cool running water, then drain away as much excess water as possible.
Combine the rice, water, bay leaf, olive oil, and salt in a medium saucepan.
Bring the water to a boil, cover the saucepan, and reduce the heat to low.
Simmer for 40 to 45 minutes, or follow the cooking instructions provided on the package.
Remove the saucepan from the heat and leave the rice covered for another 10 minutes.
Discard the bay leaf, fluff the grains gently, and fold in the cilantro, lime juice, and lemon juice.