In a mixing bowl, whisk together olive oil, lime juice, garlic, cumin, chili powder, salt, and black pepper to create the marinade.

Place the skirt steak in a resealable plastic bag or shallow dish and pour the marinade over it. Seal the bag or cover the dish and refrigerate for at least 1 hour, or up to 8 hours.

Preheat the grill to high heat.

Remove the steak from the marinade and let excess marinade drip off. Discard the marinade.

Place the steak on the grill and cook for about 3-4 minutes on each side for medium-rare, or until desired doneness is reached.

Use a meat thermometer to check for an internal temperature of 130°F (54°C) for medium-rare.

Remove the steak from the grill and let it rest for 5 minutes before slicing.

Slice the skirt steak against the grain into thin strips.

Garnish with chopped cilantro and serve with lime wedges.