Preheat your oven to 350° and line 2 standard muffin pans with paper liners.
In a 4-cup liquid measuring cup, add in the eggs, extra light olive oil, buttermilk, unsweetened applesauce, white distilled vinegar and vanilla extract. Whisk to combine.
Pour in the black food coloring, stir to combine and set aside.
In the bowl of your stand mixer, measure and add in flour, sugar, black cocoa powder, baking soda and fine salt. With the mixer on low, stir to combine.
With the mixer still on, slowly and carefully, pour in the wet ingredients. Scrape down the sides and bottom of the bowl, mixing well until combined.
Divide the batter among the two pans, roughly 3 generous tablespoons per liner. Bake each batch in your preheated 350° oven for 16 to 18 minutes or until the tops bounce back when pressed gently and a tester comes back with only a few crumbs attached. I bake them separately because my oven is small and extremely old and I worry about uneven baking.
Once baked, remove and allow the cupcakes to cool completely. Meanwhile, make the frosting.