Heat oil in a large nonstick skillet over medium-high heat. Sprinkle turkey with salt and black pepper. Add turkey to pan; cook for 3 1/2 minutes on each side or until done. Remove turkey from pan, and keep warm.
Add onions and bell pepper to pan; sauté 2 minutes. Add remaining ingredients. Bring to a boil; cook until reduced to 1 cup (about 3 minutes). Serve with turkey.