Mix flour, yeast, sugar, and salt in a large bowl.
Add in water and oil, stir to combine. The dough will be very shaggy looking.
Either cover and allow the dough to rise at room temperature for 8-24 hours or proof it quickly using the Instant Pot.
If using the Instant Pot, line the Instant Pot with parchment paper and place the dough on the parchment paper. Cover with a glass lid and set the Instant Pot to Yogurt LOW. Allow the dough to rise for 3 hours.
Once the dough is finished rising, carefully turn the dough onto a floured surface and shape into a smooth round loaf.
Allow to either rise again for 1 hour at room temperature or put it back into a parchment lined Instant Pot on Yogurt NORMAL for 15-30 minutes while the oven preheats.
Place your dutch oven and lid in the oven and preheat to 425°. Once the oven is preheated, carefully remove the dutch oven and place on a cooling rack. Carefully transfer the dough to the dutch oven. Replace lid and carefully place back in the oven.
Bake at 425° for 30 minutes and then remove the lid and bake for an additional 10-15 minutes or until the curst is a nice golden brown.
If possible, allow the bread to cool for 1 hour before slicing.