Bring 2 cups water to a boil in a medium saucepan. Stir in 1 cup long-grain rice, reduce heat to low, cover, and simmer until the water is absorbed and the rice is tender, about 18–20 minutes.
Heat 2 teaspoons olive oil in a large skillet over medium heat.
Add the chopped small onion and 1 tablespoon minced garlic to the skillet and cook, stirring, until softened, about 3 minutes.
Stir in the chopped red and green bell peppers and cook until tender, about 5 minutes.
Add 1 teaspoon dried oregano, 1/2 teaspoon dried basil, 1/2 teaspoon ground black pepper, 1/2 teaspoon ground cumin, 1/4 teaspoon ground coriander, and salt to taste; stir to combine and heat through for 1 minute.
Fold the cooked rice into the skillet with the sautéed vegetables, mixing gently until combined and heated through.
Taste and adjust seasoning if needed, then serve warm garnished with chopped fresh cilantro or parsley.