Heat vegetable oil in a large, heavy-bottomed pot over high heat. Cook and stir onion, green bell pepper, and red bell pepper in hot oil until softened, 2 to 3 minutes.

Pour chicken stock into the pot and reduce heat to low. Stir vegetable juice, black beans, turkey, diced tomatoes, garlic, lemon juice, cumin, chili powder, jalapeno pepper, salt, and pepper into the stock. Raise heat to medium, bring the soup to a simmer, and cook until heated through and the flavors meld, 15 to 30 minutes.