Start by rinsing your basmati rice under cold running water until the water runs clear. This helps to remove excess starch and ensures fluffy rice.
In a large saucepan, combine the rinsed rice, bay leaf, and a pinch of salt. Add 4 cups of water (or as per your rice package instructions for cooking) and bring to a boil over medium-high heat.
Once boiling, reduce the heat to low, cover the saucepan with a lid, and let it simmer for about 15-20 minutes or until the rice is tender and the water is absorbed. Remove from heat and let it sit covered for an additional 5 minutes.
After the rice has rested, remove the bay leaf and fluff the rice gently with a fork. If using, drizzle with olive oil or rice bran oil for a hint of richness.
Stir in the minced cilantro, lime juice, and lemon juice until evenly incorporated. Taste and adjust seasoning with more salt if needed.