Place the stainless steel inner pot inside the Instant Pot® and pour in the oil. Press Saute and set the time to 2 Minutes. Add the rice and stir so that it doesn’t burn.
After 2 Minutes, press Cancel. Add the salt and water.
Close and lock the Instant Pot® lid. Make sure the steam release handle is turned to Sealing. Press Pressure Cook, pressure level High, and set time to 7 Minutes.
When done cooking, press Cancel and turn the steam release handle to Venting. Once all the pressure has been released, open the lid and remove the rice.