Preheat the oven to 350 degrees F (175 degrees C).
Pour rice into a casserole dish; season with chili powder, salt, cumin, black pepper, cayenne pepper, and oregano. Pour in olive oil and stir until rice is thoroughly coated. Add beans, salsa, and broth; stir until evenly combined. Cover very tightly with heavy-duty aluminum foil.
Bake in the preheated oven until rice is tender, about 1 hour and 10 minutes. Remove the foil; taste and adjust seasoning if necessary. Fluff with a fork and serve hot.