Preheat the oven to its highest setting.
Rub the beef with the olive oil, salt and pepper all over.
Put a heavy-based roasting tray on the hob and when hot, add the beef.
Sear the beef quickly on all sides to colour and crisp the outside.
Transfer the beef immediately to the oven and leave the oven on its highest setting (about 240C/460F/Gas 8) for 20 minutes.
Reduce the heat to 190C/375F/Gas 5 and roast for half an hour per kilo for rare, adding another ten minutes per kilo for medium rare, 20 minutes per kilo for medium, and 30 minutes per kilo for well done.
Remove the beef from the oven, transfer it to a carving board and cover with foil. Allow it to rest in a warm place for 30 minutes.
For the Yorkshire pudding, mix together the eggs, flour and a pinch of salt.
Add the milk, stirring constantly, until you have a runny batter.
Leave this to rest, covered, in the refrigerator for up to 12 hours.
Place 1cm/Â½in of beef dripping in the bottom of each pudding mould, or if you are using a rectangular roasting tray, place 1cm/Â½in of beef dripping across the bottom.
Heat the dripping in the oven (at 240C/460F/Gas 8) for about ten minutes, until it is piping hot.
Remove the roasting tray from the oven, pour in the batter, and immediately return to the oven. Bake for 25 minutes, until golden brown and crispy, making sure not to open the oven door for the first 20 minutes.
Serve immediately with the carved roast beef.