Add the water, bay leaves and rice into a stovetop pot.
Bring to a boil over high heat, then reduce the heat to medium-low.
Keeping the pot covered, simmer until the rice is cooked. This will take 25-30 minutes.
Remove the pot from the heat and let the rice cool for 10 minutes.
In a small bowl, mix together the lime, oil and salt. Stir this into the rice, then fold in the cilantro.
Transfer into an airtight container. Allow the rice to fully cool, partly covered with a lid, for an hour. Once cooled, place in the refrigerator until ready to heat and serve.
Notes
Storage
Store in an airtight container in the refrigerator for up to two days.