Remove the metal Instant Pot insert for the instant pot cooking section. You'll use it like you are working with a mixing bowl.

Add the oil to the bowl of your instant pot and use a pastry brush or something similar to fully coat the bottom of the Instant Pot insert, and 1 inch up each side, with oil. The goal is to just cover it completely, so use enough oil to do that.

Add the rice to the Instant Pot insert and shake the insert just a little so that the rice spreads all across the bottom of the pot (and is not just in a pile in the center).

Add the water the the Instant Pot insert, and shake the insert just a little so that the rice spreads evenly along the bottom of the pot. (Sometimes when you add the water, it'll wash a hole in the rice, so by shaking it the rice will cover the bottom of the pot again.)

Place the insert back into the cooking portion of the Instant Pot, place the lid on, push the valve to "sealing."

Press the "pressure cook" button and set the cook time for 4 minutes. It should be on high pressure. (Sometimes using the rice button will not be the high pressure option, so I don't use the rice button.)

Let the Instant Pot come to pressure and start the cook time.

Once the cook time has gone by, let it rest for 18 minutes at natural pressure release (on mine, it'll starts counting up the minutes since the cook time has ended, so I just wait for it to get to 18).

Once the 18 minute natural pressure release has gone by, you can flip the valve so that any remaining pressure is released.

Remove the lid carefully, fluff with a fork, and serve.