Add oil and rice to a saucepan, stir to thoroughly coat the rice in vegetable oil. Cook over medium heat, stirring frequently until rice is lightly browned and toasted. It goes from light brown to burnt quickly, so stir often and keep your eye on it.
Once the rice has attained a golden color, add onion, garlic, jalapeno, tomato, broth, cumin, tomato paste, and Knorr bouillon. Stir and taste the liquid for needed salt and pepper. Because of the bouillon, the broth might seem a little salty, but the finished product does not come out as salty.
Bring liquid to a boil, then reduce heat to simmer, put the lid on the saucepan and cook for 18 minutes. After 18 minutes, turn off the heat and keep lid on. Let rice sit for 5 minutes undisturbed, then fluff with a fork before serving.
Garnish with fresh cilantro and enjoy!