Preheat the oven to 350°F. 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.
In the bowl of a stand mixer fitted 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 one at a time, mixing until pale and thickened, about 2-3 minutes.
Gradually pour in the olive oil, mixing until fully incorporated.
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 pan, smoothing the top with a spatula. Place a baking sheet underneath the springform pan to catch any drips while baking.
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, loosely tent it with aluminum foil after 40 minutes.
Let the cake 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.