Once the oil is shimmering, add the chopped onion and carrot and cook, stirring often, until the onion has softened and is turning translucent, about 5 minutes. Add the garlic, cumin, curry powder and thyme. Cook until fragrant while stirring constantly, about 30 seconds. Pour in the drained diced tomatoes and cook for a few more minutes, stirring often, in order to enhance their flavor.
Warm the olive oil in a large Dutch oven or pot over medium heat. One-fourth cup olive oil may seem like a lot, but it adds a lovely richness and heartiness to this nutritious soup.