Add the salsa, chicken broth, taco seasoning, and oil to the instant pot and give it a quick stir to combine. Add the chicken breasts to the instant pot and cook on manual high pressure for 15 minutes.
When the time is done, use the quick release option to release the pressure. You can also allow it to release naturally if desired. Shred chicken with two forks or shred with an electric mixer and give it a stir to combine.