Heat oil in a saucepan. Whisk in flour and cook 2-3 minutes while stirring until fragrant and nutty smelling.
Stir in chili powder, garlic powder, onion powder, cumin and oregano. Cook 1 minute more.
Add tomato sauce and broth a little at a time, stirring between each addition until smooth.
Bring to a boil, reduce heat to a simmer and let simmer 2-3 minutes.
Remove from heat and season with salt and pepper to taste.
(Nutrition information provided is an estimate and will vary based on cooking methods and brands of ingredients used.)