Preheat grill to medium. Cover and grill steak to desired doneness. (Allow 16 to 20 minutes for medium-rare or 20 to 24 minutes for medium doneness).
Meanwhile, for the sauce, stir together the olive oil, parsley, oregano, garlic, salt and red pepper. Spoon the sauce on top of the steak for the last 2 minutes of grilling.To Grill Directly:
Grill the steak on an uncovered grill directly over medium coals to desired doneness, turning once. (Allow 12 to 16 minutes for medium-rare (130 degrees F) doneness or 18 to 24 minutes for medium (140 degrees F) doneness).