In a Dutch oven or large pot, heat the oil until shimmering. Add the onion and cook until softened, about 5 minutes. Stir in the garlic until fragrant, about 30 seconds. Add the beans, chili powder, cumin, oregano and bay leaves. Pour in the water and cover and bring to a boil. Once boiling, reduce heat and let simmer for about 15 to 20 minutes.