In a small bowl, mix together the dried oregano, paprika, garlic powder, onion powder, salt, and pepper. Rub the spice blend over all sides of the chicken thighs, making sure to get some under the skin if using skin-on thighs.
Pour the olive oil into the Instant Pot and press the ""Sauté"" button. Once the oil is hot, spread it evenly over the bottom of the pot. Carefully place the seasoned chicken thighs skin side down in the pot. Sear for about 4 minutes per side, until both sides are browned. Transfer the chicken to a clean plate.
Turn off the Instant Pot and pour the chicken broth into the inner pot. Use a spatula to scrape up any browned bits from the bottom to prevent a burn warning during pressure cooking.
Place the metal trivet in the Instant Pot and arrange the chicken thighs on top, skin side up.
Close the Instant Pot lid and set the steam release valve to the Sealing position.
Pressure Cook at High Pressure:
Bone-In Thighs: Cook for 10 minutes. The Instant Pot will take about 5 minutes to reach pressure before the cook time begins. Once done, allow the pressure to release naturally for 5 minutes, then manually release any remaining pressure.
Boneless, Skinless Thighs: Cook for 8 minutes. The Instant Pot will take about 5 minutes to reach pressure before the cook time begins. Once done, allow the pressure to release naturally for 5 minutes, then manually release any remaining pressure.
Frozen Thighs: See note below.
Carefully turn the steam release valve to Venting to release any remaining pressure. Once the float valve drops, open the lid. Use an instant-read thermometer to check that the internal temperature of the chicken has reached 165°F.
(If the chicken isn’t fully cooked, turn on Sauté to bring the broth to a boil, then turn off the pot and cover with the lid for a few minutes to finish cooking with residual heat.)