1. Cut steak in half lengthwise. Cut each half across the grain into 1/8-inch-thick slices. Combine beef, soy sauce, garlic, and black pepper; toss well. Cover and refrigerate 30 minutes.
2. Combine 1 1/2 tablespoons water, oyster sauce, and crushed red pepper in a small bowl; set aside.
3. Cut broccoli into florets. Peel broccoli stems; cut stems diagonally into 1/4-inch-thick slices.
4. Heat 1 tablespoon canola oil in a large nonstick skillet over medium-high heat. Add beef mixture to skillet; cook 3 minutes or until beef is browned, stirring constantly. Remove from heat. Transfer beef mixture to a bowl.
5. Heat the remaining 1 tablespoon canola oil in pan over medium-high heat. Add broccoli; cook 2 minutes, stirring constantly. Add the remaining 2 tablespoons water; cook 1 minute, stirring constantly. Add bell pepper; cook 30 seconds, stirring constantly. Return beef mixture to pan. Stir in the oyster sauce mixture; cook until thoroughly heated. Serve over rice.