In a large saucepan; heat oil over medium heat. Cook onion, stirring occasionally, for 5 minutes or until softened.
Add carrots, stock, rice, worcestershire sauce, thyme, bay leaf and pepper. Bring to boil. Reduce heat to low and simmer for 25 minutes or until carrots are tender. Discard bay leaf.
In blender, puree soup, in batches if necessary, until smooth. Return to saucepan and add milk. Bring to simmer. Stir in cheese. Heat over low heat until melted, stirring often.
Serves 4
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