Use "Rice" setting on Instant Pot or pressure cook on high for 15 minutes.
Once cooked, use quick release to release pressure.
Add in oil, salt and pepper and stir to combine.
Notes
The inactive time listed is the time it takes for the Instant Pot to come to pressure.If you need to make more rice, simply add ¼ cup more broth than the amount of rice you are cooking (2 cups rice and 2 ¼ cups broth, for example).