Heat oil in a large soup pot or Dutch oven over medium heat.
Add onion and garlic and cook, stirring frequently, until onion is translucent, about 5 minutes.
Add chili powder, oregano, cumin and chile flakes and cook, stirring constantly, for 1 minute.
Add ground beef and cook, stirring and breaking up with a wooden spoon, until meat is browned, 3 to 5 minutes.
Add tomato sauce, 1 cup water and beans.
Season with salt and stir to combine.
Bring to a boil, lower the heat to low, cover and simmer, stirring often, until flavors have melded and sauce is thickened and bubbly, about 30 minutes.
Stir in cilantro and hot pepper sauce, if desired.
Ladle chili into bowls and serve.