Preheat your oven to 350°F (175°C) and prepare a 9-inch round or loaf pan by greasing and flouring it.

In a large mixing bowl, whisk together the vegetable oil, granulated sugar, eggs, and vanilla extract until smooth and fluffy.

Incorporate the fresh lemon zest and lemon juice into the wet mixture, stirring until well combined.

In a separate bowl, sift together the all-purpose flour, baking powder, baking soda, and salt.

Gradually add the dry ingredients to the wet mixture, alternating with the milk or buttermilk, if using. Stir until just combined.

Pour the batter evenly into your prepared pan, smoothing the top, and bake for 30–35 minutes or until a toothpick inserted comes out clean.

Once baked, cool the cake in the pan for 10 minutes, then transfer to a wire rack. Prepare glaze and drizzle over the cooled cake.