Bring oil, water, and salt to a boil. Sprinkle in matzo meal and stir with a spoon, when mixture becomes sticky and pulls away from the sides of the pot, let it cool for 10-15 minutes.
Add sugar and eggs, one at a time, beating well after each addition. I use a wooden spoon for this.
Dipping your hands in cold water first, form batter into a small balls and lay on a parchment lined cookie sheet. Repeat with all the batter, dipping hands in water each time. Using your finger make a large hole in the center of each bun. I do this by circling my finger in the hole until I have a large enough hole (1-2 inches in diameter).
Bake for 15-20 min., until bagels are puffy, drop the temperature to 325 degrees and bake for another 30 mins., until golden brown.