Heat the oil over medium-high heat. Put 2 kernels of popcorn into the pan, cover, and wait to hear them both pop. Remove the pan from the heat and add in the remaining kernels, cover, and let sit for 45 seconds.
Return the pot to the stove's medium-high heat. The popcorn should start popping within a minute or two. Shake the pot every now and again to ensure even heating.
Remove lid once kernels stop hitting the lid (this means there is enough popcorn in the pot so the kernels on bottom won't pop out). This will allow air to come into the pot and reduce the moisture level resulting in crisper popcorn.
Remove the pan from the heat once the popping slows to a near stop. Let it sit for another minute to make sure you don't have popcorn explosion in your kitchen when remaining kernels at the bottom pop.