Bring a large pot of salted water to a boil. Add the spaghetti and cook according to package directions. Drain, reserving 2 cups of the pasta cooking water.
Heat 1/4 cup of oil in a large heavy skillet over medium-high heat. Add the peppercorns and cook, stirring, until fragrant, 1 to 2 minutes. Add the pasta and 1 1/2 cups pasta cooking water and toss to combine. Slowly add the Parmesan and stir until the pasta is coated. Adjust the consistency with a little more of the reserved water if needed and season with salt to taste and garnish with more Parmesan and coarsely ground pepper if desired.
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