Add the rice to the insert of your Instant Pot. Pour in the water.
Add in the salt and oil, and stir well until combined and the rice is submerged below the water line.
Place the lid on the Instant Pot and set the valve to "sealing".
Cook on manual pressure for 4 minutes.
Once the cook time is up, the cooker will beep to indicate it has finished the cook time. If you have left the warmer mode enabled, you will see a timer that counts up on the digital display.
Allow the pot to do a 10 minute natural pressure release (the timer should display L0:10 when finished).
After the 10 minutes are up, flip the valve to "venting" carefully and allow the cooker to vent the steam until all pressure has been released. The pin will drop on your Instant Pot when it is safe to open the lid.
Open the lid away from your face, and place on the counter next to you.
Fluff the cooked rice with a fork and serve immediately. You can also set the pot to warm, replace the lid, and serve within the next 20-30 minutes for best results.