Put rice, oil, salt, and 1 qt. water in a 6- to 8-qt. pot. Bring to a boil, covered. Reduce heat to low, and simmer, covered, until most of the water is absorbed and grains are tender, about 45 minutes. If not quite tender, add 1/4 cup water.
Remove from heat and let stand 10 minutes, covered, to steam. Fluff with a fork, then serve.
*Find unrefined virgin coconut oil at well-stocked grocery stores.