Heat oil in a medium-size saucepan over medium heat. Add onion and cook 5 minutes, stirring occasionally.
Add broth, orzo, salt and pepper and stir to combine. Bring to a boil over medium-high heat. Cover and reduce heat to low. Cook for 12 minutes or until most of liquid is absorbed and orzo is tender. Stir halfway through cooking time.
Mix in capers and parsley and serve.