Heat the olive oil in a large pot over medium heat. Add the onion, garlic, and red bell pepper, then cook for 5 minutes until the vegetables soften.
Stir in the cumin, chili powder, oregano, salt, and black pepper. Cook for 1 minute until the spices become fragrant.
Add the black beans, corn, diced tomatoes, and vegetable broth to the pot. Stir everything together.
Bring the mixture to a boil, then lower the heat and let it simmer uncovered for 20 minutes.
Ladle the soup into bowls and top each serving with fresh cilantro and a squeeze of lime.