Add water and black beans to your Instant Pot, set on high pressure for 35 minutes.
Allow Instant Pot to naturally release.
When Instant Pot depressurizes, warm olive oil over medium to medium high heat in a medium frying pan. Add in onions, garlic, peppers, oregano, cumin, bullion, salt, and pepper to pan and cook until onions and peppers have softened.
Once onions and peppers have softened add in a cup of cooked black beans, and gently smash the beans into the onion mixture.
Return the onion mixture to the Instant Pot.
Press the saute mode to low heat for 20 minutes and stir beans occasionally. After the first five minutes, add in the wine and vinegar.