Heat the oil in a large soup pot over medium-high heat. Add the garlic, onion, and peppers and sauté until softened, about 3 to 4 minutes. Add the cumin, chili powder, cayenne, and oregano and cook, stirring, for 30 seconds to 1 minute.
Stir in the crushed tomatoes, chopped tomatoes, broth, and water and bring to a boil. Reduce heat to medium-low, cover, and cook, stirring from time to time, for 30 minutes.