Measure the olive oil into a 6-quart (or larger) Instant Pot insert and set to the SAUTÉ function. Once the oil is hot, add the onion, garlic, and jalapeño; cook, stirring regularly, for 2 minutes. Press CANCEL after sautéing.
Add the beans, green chiles, broth, vinegar, cumin, Mexican oregano, salt, and pepper to the pot; stir to combine. Seal the lid according to the owner’s manual and cook on HIGH pressure for 50 minutes.
When the timer is done, allow the pressure to release naturally for 20 minutes, then carefully vent to release the remaining pressure (consult your owner’s manual for more specific instructions). Open the lid and use a ladle to remove as much cooking liquid as possible to a large measuring cup or bowl. Drain the beans into a colander (you can save or discard the remaining liquid), and transfer the beans back to the Instant Pot insert.
Use an immersion blender to puree the beans until smooth and creamy, slowly and gradually adding cooking liquid back to the beans until your desired consistency is reached (typically between ½ to 1 cup total liquid). Adjust the seasonings to taste if desired, adding more salt, pepper, and/or vinegar. Serve hot.
