Season steak on all sides with some salt and pepper.

Heat half of the oil in a skillet over medium-high heat. Add steak and cook to desired doneness, 4-8 minutes per side. Remove steak and set aside to rest.

Lower heat to medium and add in remaining oil and the shallots to the pan. Stir and cook for about 2 minutes until lightly softened. Stir in vegetable broth and cook for about 2-4 minutes until the broth is reduced by about half. Turn off the heat and stir in butter until fully melted.

Pour shallot sauce over steak and serve.