Preheat your oven to 350°F (175°C). Line a 12-cup muffin tin with cupcake liners.
In a large bowl, sift together 1 cup all-purpose flour, 1 cup granulated sugar, 1/2 cup unsweetened cocoa powder, 1/2 teaspoon baking powder, 1/4 teaspoon baking soda, and 1/4 teaspoon salt.
In a separate bowl, whisk together 1/2 cup vegetable oil, 2 large eggs, 1 teaspoon vanilla extract, and 1/2 cup milk until smooth and fully incorporated.
Pour the wet ingredients into the dry ingredients. Using a spatula or mixer on low speed, gently fold and mix until just combined. Avoid overmixing.
Divide the batter evenly among the cupcake liners, filling each about two-thirds full. Bake for 18-20 minutes, or until a toothpick inserted into the center comes out clean. Remove from the oven and cool completely on a wire rack.