Heat the oil in a large skillet over medium-high heat.
Season steaks with garlic powder, onion powder, and black pepper; wrap with bacon halves and add to the skillet. Cook for 4 to 6 minutes per side or until steaks reach desired level of doneness; transfer to a platter and tent with foil to keep warm.
Add broth and vinegar to the skillet; bring to a boil then whisk up all of the browned bits from the bottom of the pan; reduce heat and simmer until mixture is reduced by half.
Remove from heat and whisk in honey; serve sauce over steaks.