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Heat the vegetable oil in a large skillet over medium-high heat.
Add the diced onion and cook until translucent, about 3 minutes. Add the ground beef to the pan, breaking it up with a spatula, and cook until browned, about 5 to 7 minutes.
Stir in the minced garlic and sliced bell peppers and cook for another 3 to 4 minutes, until the peppers are tender-crisp.
Add the soy sauce, oyster sauce, sesame oil, and ground black pepper to the pan, stirring to combine and evenly coat the beef and bell peppers.
Reduce the heat to low and let the mixture simmer for 2 minutes to allow the flavors to blend.
Serve the beef and bell pepper mixture over bowls of cooked rice.
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