Heat olive oil in a medium saucepan over medium heat. Add onion and cook until softened, about 5 minutes.

Add ketchup, Worcestershire, molasses, brown sugar, balsamic vinegar, dry mustard, granulated garlic, smoked paprika, cayenne pepper, salt and black pepper; stir to combine. Bring to a boil, then reduce heat to low and simmer until slightly thickened, about 25 minutes, stirring frequently

Transfer sauce to a blender or food processor and blend until smooth. Let cool to room temperature. Transfer to a jar and store in refrigerator for up to 1 month.

This is great on everything . . . chicken, ribs, burgers, etc.

Makes 1-1/2 cups.