Place dried black beans in a large bowl, cover with water and set aside for at least 24 hours. This helps soften the beans for a more enjoyable texture. Once fully soaked, drain and rinse before cooking.
Place olive oil in the basin of the instant pot and place on the sauté function. Add onion and bell pepper. Add a pinch of salt and sauté for 5 minutes. Then add garlic and cook for another 5 minutes, until the onions are translucent. Remove with a slotted spoon and set aside for later. Press cancel on the instant pot.
Add the rinsed beans to the pot along with water, vinegar, salt, oregano, cumin, black pepper, and bay leaves. Mix together to combined then top with lid, secure, and press the pressure cook function. Set to 30 minutes on high pressure. Once the beans are done cooking, you can quick release or let it naturally release, either way will work. Add the onions and peppers back in and mix to combined. The beans will have some excess liquid, but it thickens as it sits throughout the week and keeps the beans fresh!
*I REALLY like salt so I like to add a good amount. You could always lower the salt amount and then taste the beans once they are cooked to see if they need more salt