Heat oil in the pot over medium heat.
Add onions and garlic to the pot.
Cook until onions become soft and translucent.
Add carrots, potatoes, and parsnips next.
Stir vegetables for three minutes thoroughly.
Pour in the vegetable broth slowly.
Add pearl barley to the mixture.
Drop in bay leaves and thyme.
Bring everything to a rolling boil.
Reduce heat and simmer for 40 minutes.
Stir occasionally to prevent sticking at bottom.
Season with salt and pepper generously.
Remove bay leaves before serving hot.