Preheat 375°F, put rack in the middle position. Bake for 70min. Fluff rice with fork, scraping sides and bottom. Lay clean folded towel underneath lid, and let sit for 10min.
Thoroughly rinse and drain rice.
Heat olive oil in dutch oven over medium heat. Add onion and salt, and cook until well browned (~12-14min). Add water, and increase heat to bring to boil. Stir in bullion.