1. Drizzle oil into a nine- by 13-inch roasting pan. Preheat oven to 350 degrees Fahrenheit.
2. Add onion slices evenly over the bottom of the pan.
3. Evenly layer the pepper steak, then sprinkle the salt and pepper over it.
4. Cover the meat with a layer of the bell pepper strips.
5. In a separate bowl, whisk together all of the sauce ingredients. Then pour the sauce evenly over the meat and peppers.
6. Cover the pan with foil or a lid. Bake at 350 for one hour.