Turn the Instant Pot to saute mode. Add the oil and steak, brown the beef, stirring occasionally, about 5 minutes.
Add the next 10 ingredients. Stir to combine, until the beef base has dissolved.Turn the saute mode off.
Lock the lid in place. Turn the venting valve to seal. Set the Instant Pot to Stew/Meat OR Pressure mode, on high, for 20 minutes.
After the 20 minute timer goes off, carefully turn the top pressure valve to vent and do a quick release of the pressure.
Stir in the Worcestershire, frozen corn, and frozen peas. The heat from the soup will cook the frozen veggies.
Serve immediately or keep in the refrigerator for up to 5 days.
You can find beef base in the soup aisle of your grocery store. It will be near the bouillon. However beef base will be in a jar or a tub and comes in a paste form. It has quite a bit more flavor than a bouillon, stock, or broth. It is worth the purchase, especially if you like to make my soup recipes!