Rinse and drain the dried beans. Remove any debris. (Sometimes you might find small rocks, leaves, etc.)
Add the rinsed beans to the instant pot. Stir in water, chili powder, garlic powder, salt, oregano, and black pepper.
Seal the Instant Pot. Set it to Pressure Cook (or Manual, depending on the model Instant Pot you have) on high pressure for 40 minutes. (It will take a few minutes for it to come to pressure and then the count down will start.)
Once the cooking time has passed do a natural release. (That means you should not vent the instant pot. It will happen naturally but can take about 25 minutes. You'll know it's done when the float valve has dropped or when you flip it to release and don't hear the hiss of steam releasing.)
Serve immediately. Use a slotted spoon to serve beans without any excess liquid if you prefer.