Heat olive oil in a large pot and brown beef on all sides. Remove and set aside.Add onion to the pot and cook until soft.Stir in garlic, carrots, and celery and cook briefly.Return beef to the pot and add barley and seasonings.Pour in beef broth and bring to a boil.Reduce heat and simmer until beef is tender and barley is cooked.Remove bay leaf, adjust seasoning, and serve hot.