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Export 15 ingredients for grocery delivery
Set Instant Pot to SAUTE. Add oil. Once hot, add onion. Sauté for 2 minutes, then add garlic and let cook until fragrant, about 30 seconds.
Add a splash of broth and scrape to remove any browned bits from the bottom of the pot. Add remaining broth, water, cumin, chili powder, oregano, salt, pepper, cayenne and beans. Stir to combine. Hit CANCEL.
Make sure your sealing ring is in place on the lid. Lock the lid onto Instant Pot and set the steam release knob to the "sealing" position.
Press the MANUAL button and set Instant Pot for high pressure for 40 minutes. It will take about 15 minutes for Instant Pot to come to full pressure, then the display will show a countdown timer.
Once the 40 minutes are up, allow the pressure to release naturally for 15 minutes, then release any remaining pressure.
Remove the lid and drain the beans, reserving the liquid.
Return the cooked beans to the pot, and stir in ½ cup of the reserved cooking liquid. Season with salt, to taste. Use a potato masher to mash the cooked beans until smooth, leaving some texture if you like. Or, you can use an immersion blender for pureed beans.