Heat 2 tsp oil in medium pot over medium-high heat. Add onions and peppers; cook until soft, about 10 minutes. Add garlic, adobo, sugar and oregano, cook until fragrant, about 1 minute more.
Transfer liquid from can black beans to measuring cup; add enough water to measure 2 cups. Add liquid and bay leaf to pot; bring liquid to boil. Stir in black beacn and rice. Bring Rice misture to boil Reduce heat to medium-low. Simmer, covered, until rice absorbs water, about 25 minutes. Add vinegar; stir to combine.
Remove rice from heat; let sit until rice is tender, about 5 minute more.
Evenly divide rice among serving bowls; drizzle with 1 tsp olive oil.
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