Heat the olive oil in a large skillet over medium heat. Add the onion and garlic, cooking until softened and fragrant (about 2-3 minutes).
Stir in the diced red bell pepper, cumin, smoked paprika, and chili powder. Cook for another 2-3 minutes until the spices are toasted.
Add the diced tomatoes, black beans, and vegetable broth. Season with salt and pepper. Simmer for 8-10 minutes, stirring occasionally, until the sauce thickens slightly.
Add the Eggs
Use a spoon to create small wells in the sauce, then crack an egg into each well. Sprinkle the shredded cheese evenly over the top.
Cook the Skillet
Cover the skillet with a lid and cook on low heat for 5-7 minutes, or until the egg whites are set but the yolks are still runny. If you prefer firmer yolks, cook a bit longer.
Garnish and Serve
Remove the skillet from the heat and garnish with fresh cilantro, diced avocado, and sliced jalapeños if desired.
Serve the Huevos Rancheros Skillet directly from the pan with warm tortillas on the side and lime wedges for squeezing over the top.