Preheat the oven to 350°F (175°C).
In a medium bowl, whisk together the flour, cocoa powder, baking powder, baking soda, and salt. Set aside.
In a large bowl, mix the vegetable oil and granulated sugar until well combined.
Add the eggs and vanilla extract to the oil and sugar mixture, and mix until smooth.
Stir in the red food coloring until fully blended into the wet mixture.
Gradually add the dry mixture to the wet mixture, stirring until just combined. Do not overmix.
Chill the dough in the refrigerator for about 30 minutes. This helps it firm up.
Scoop the chilled dough using a cookie scoop or tablespoon and roll into balls.
Roll each dough ball in powdered sugar, ensuring they are fully coated.
Place the sugar-coated dough balls onto a lined baking sheet, spacing them about 2 inches apart.
Bake for 10-12 minutes, until the edges are set but the centers remain soft.
Remove the cookies from the oven and let them cool on the sheet for 5 minutes, then transfer to a wire rack to cool completely.