Preheat oven to 350°F (175°C). Spray a 9-inch springform pan with baking spray. Then, line the bottom with parchment paper.
In a medium bowl, whisk together the flour, baking powder, salt, and baking soda. Set aside.
To the bowl of a stand mixer with the whisk attachment, add the granulated sugar and lemon zest. Mix on low to combine.
With the mixer still on low speed, add the eggs to the sugar mixture and mix until pale and thickened, about 2–3 minutes.
Gradually pour in the olive oil until fully mixed.
Add the lemon juice and whole milk. Mix on low until just combined.
Gradually add the dry ingredients to the wet ingredients, mixing on low until just combined. Stop to scrape the sides of the bowl as needed.
Pour the batter into the prepared springform pan, smoothing the top with a spatula. (Place a baking sheet or pan underneath the springform pan to catch any drippings while the cake bakes.)
Bake for 45-55 minutes, or until the top is golden brown and a toothpick inserted into the center comes out clean. If the cake begins to brown too quickly, tent it loosely with aluminum foil after 40 minutes.
Allow the cake to cool in the pan for 15–20 minutes.
Run a knife around the edges to loosen the cake, then release the springform ring. Transfer the cake to a wire rack and let it cool completely.
Dust with confectioners' sugar before cutting and serving.