Heat the oil in a 10-inch skillet over medium heat. Add the turkey, onion and basil and cook until the turkey is browned, stirring often to separate the meat. Pour off any fat.
Stir the juice and rice in the skillet. Heat to a boil. Reduce the heat to low. Cover and cook for 10 minutes. Stir the peppers in the skillet. Cover and cook for 10 minutes or until the rice is tender and most of the liquid is absorbed.