Add olive oil to a medium saucepan and heat over medium-high heat. Add in onions and saute until tender and golden brown 3-4 minutes. Add in garlic and saute for an additional minute.
Stir in the spices: cumin, oregano, salt, pepper and chili powder. Allow them to cook for one minute. Keep an eye on them and continuously stir so they do not burn.
Add in beans and chicken broth and turn the heat down to low. Simmer until the mixture has thickened a bit, 5-10 minutes. (The mixture will still look a bit watery but will thicken when we mash the beans)
Mash the beans with the back of your spatula or with a potato masher. Make sure to leave some of the beans whole to keep a chunky texture. Serve the beans as is or top with cilantro, raw onions, sour cream, or queso fresco.