Place a medium pot over medium-high heat with 2 turns of the pan of EVOO, about 2 tablespoons. Add the peppers, onion, garlic and spices to the pan, and cook until the veggies begin to soften, 3-4 minutes.
Add the rice and stock to the pot, season with salt and pepper, and bring up to a bubble. Place a lid on the pot, reduce the heat to medium-low and simmer until all of the liquid has been absorbed, about 15 minutes. Fluff the rice with a fork and serve.