Heat oil in a medium saucepan over medium heat. Add onion and red pepper and cook until slightly soft, 2-3 minutes.
Add garlic and continue cooking 1-2 minutes or until garlic is fragrant and the vegetables are soft.
Add rice and cook until golden brown, stirring frequently about 6-8 minutes.
Stir in broth, tomato sauce, and seasonings.
Bring the mixture to a boil over high heat, reduce to low heat, and cover with a lid and cook until all the liquid is absorbed, about 8-10 minutes, stirring often.
Remove the rice from the heat and fluff the rice with a fork
Season with salt and pepper and serve with green onions or cilantro, both optional. Serve.