In a small bowl, whisk together the oil, ranch seasoning, red pepper flakes, garlic powder, and onion powder until smooth.
Place the cheez its in a large plastic bag and pour the oil mixture over the cheez its. Seal the bag and toss and turn to fully coat the crackers in the oil and seasoning mixture. Pour the cheez its onto 1-2 large baking sheets.
Bake in the preheated oven for about 14-16 minutes or until deeply golden brown.