Heat the olive oil in a medium pot over medium-high heat. Add the rice and stir to coat in oil. Toast the rice, stirring often, until the most of the rice is golden brown.
Add the water, salt, and lime zest. Bring to a boil, then cover pot with a lid and reduce the heat to very low. Cook for 15 minutes without removing the lid.
Remove the lid and add the black beans, chopped cilantro, and lime juice. Stir everything together, then cover again and remove from heat. Let it rest for a few minutes before serving.