Add 2 teaspoons ground cumin, 1 teaspoon dried oregano, 1 teaspoon kosher salt, and ½ teaspoon coarsely ground black pepper to small bowl. Whisk or stir ingredients together until well blended.
Place 6 medium boneless, skinless chicken thighs on large plate or cutting board. Sprinkle spice mixture evenly over chicken thighs, then flip chicken thighs over and season other side. Set aside.
Set Instant Pot to Sauté mode. Add 1 tablespoon neutral oil to Instant Pot insert and heat oil until shimmery.
Place seasoned chicken thighs in Instant Pot, laying thighs directly on bottom of insert. Work in batches as needed to avoid overcrowding.
Sear chicken thighs 1 to 2 minutes, then flip chicken thighs over and sear other side 1 to 2 minutes more. Once chicken thighs are golden on both sides, transfer chicken to plate and set aside. Repeat with remaining chicken thighs.
Once all chicken thighs have been seared, add 5 cloves garlic, 1 medium yellow onion, and 1 medium jalapeño pepper to empty Instant Pot insert. Sauté ingredients, stirring occasionally, 4 to 5 minutes or until onions have softened.
When onions have softened, pour in 1 cup low-sodium chicken broth. Stir to incorporate, scraping bottom of insert to loosen any browned bits of garlic, onion, jalapeño, or chicken that may be stuck to insert. Once any bits of food are loose, turn off Sauté mode.
Add ¼ cup fresh lime juice, ⅓ cup orange juice, ¼ cup roughly chopped cilantro, and 1 bay leaf to Instant Pot and stir to incorporate.
Return all seared chicken thighs to Instant Pot. Secure lid on Instant Pot with valve in Sealing position. Set Instant Pot to Manual High Pressure for 8 minutes. Instant Pot will pressurize, then cook time will begin.
When cook time ends, immediately Quick Release pressure. Use caution - escaping steam will be very hot.
Carefully remove lid and set aside. Transfer chicken thighs to cutting board, and reserve cooking liquid in Instant Pot. Using 2 forks, shred chicken into pieces of desired size. Alternately, place chicken in large bowl and use hand mixer to shred.
Preheat broiler to high and position oven rack 8 to 10 inches beneath heating element. Line baking sheet with parchment paper.