Cook spaghetti in large pot of boiling salted water until just tender but still firm to bite, stirring occasionally. Drain spaghetti, reserving 3/4 cup cooking liquid.
Return pasta to pot. Add oil mixturre and toss over medium heat to coat, about 1 minute, adding reserved cooking liquid by 1/4 cupfuls if dry.
Season with salt and pepper. Sprinkle with Parmesan cheese and serve.