Heat oil in a small saucepan over medium-high heat. Add flour and cook for 1 minute, whisking constantly.
Add in the chili powder, garlic powder, cumin and oregano and cook for 1 more minute, whisking constantly.
Gradually pour in the stock, whisking constantly to combine until no lumps remain.
Continue cooking until the sauce reaches a simmer. Then reduce heat to medium-low to maintain the simmer for about 10-15 minutes, uncovered, until the sauce has slightly thickened.
Give the sauce a taste and season with salt, as needed.
Use immediately in your favorite recipe and enjoy!
