Heat the oil in a large skillet over medium heat. Add the rice and toast, stirring constantly, until the grains turn golden brown, about 5 minutes.

Stir in the chopped onion and garlic; cook until softened and fragrant, about 2 minutes.

Pour in the tomato picante sauce and chicken broth. Season with cumin, chili powder, salt, and pepper. Give it a good stir.

Bring the mixture to a gentle boil, then reduce heat to low. Cover and simmer until the rice absorbs the liquid, about 15–18 minutes.

Turn off the heat and let the rice rest, covered, for 5 minutes. Fluff with a fork, then garnish with chopped cilantro.