Place the rice in a fine-mesh strainer and rinse it under cool water until the water becomes mostly clear.
Transfer the rice to a saucepan and add the water, bay leaf, olive oil, and salt.
Bring the water to a boil, cover the saucepan, and reduce the heat to its lowest setting.
Cook for approximately 15 minutes, or follow the timing recommended on the rice package.
Remove the saucepan from the heat and allow the rice to rest, still covered, for 5 minutes.
Discard the bay leaf, fluff the rice with a fork, and fold in the cilantro, lime juice, and lemon juice.
