Heat the oil in a medium-size pot or a deep skillet with a tight-fitting lid over medium heat. Sauté the onion and bell pepper until softened, about 2 minutes. Stir in the rice and sauté, stirring regularly, until the rice starts to toast and turn golden brown, about 4-5 minutes more. Stir in the chili powder, cumin, oregano and salt and cook, stirring constantly, until fragrant, about 30 seconds.
Immediately add the tomatoes with their juices, and stir to combine and dislodge any rice that’s sticking to the corners of the pan. Add the chicken broth, increase the heat to high, and bring to a boil. As soon as the mixture boils, give it a good stir, cover the pot and reduce the heat to low. Simmer, covered, for approximately 15 minutes or until the rice is tender and most of the liquid has been absorbed. Remove from the heat and allow to rest, covered, for 5 minutes.
Stir the rice, sprinkle with fresh cilantro, if desired, and enjoy.
*The level of spiciness in this dish is similar to a medium salsa. If you prefer mild, choose the variety of Rotel that is specifically labeled as mild. Conversely, there is a hot Rotel option for those who enjoy extra heat. Optionally, you could try the recipe with a similar amount of chunky salsa in place of the Rotel tomatoes.
I like to mix the spices in a small bowl so they can be quickly added to the skillet. For added ease, this can be done earlier in the day. The bell pepper and onion can also be diced in advance and refrigerated in a deli bag or an airtight container.