Preheat your oven to 350°F (175°C).

In a mixing bowl, combine 1 cup of rolled oats with 1 cup of boiling water. Let it sit for about 20 minutes.

In another bowl, whisk together 1 cup granulated sugar, 1 cup brown sugar, and ½ cup vegetable oil until smooth.

Add 2 large eggs and 1 teaspoon of vanilla extract to the sugar mixture and beat until creamy.

Stir in the soaked oats into the wet mixture.

Whisk together 1½ cups flour, 1 teaspoon baking soda, 1 teaspoon baking powder, ½ teaspoon salt, and 1 teaspoon cinnamon in a separate bowl.

Gradually add the dry ingredients to the wet ingredients, stirring until just combined.

Pour the batter into a greased cake pan and spread evenly.

Bake for 35 minutes or until golden brown and a toothpick comes out clean.

Let it cool in the pan for a few minutes before transferring to a wire rack to cool completely.