Classic BBQ Rib Sauce

2 cups ketchup

1/3 cup brown sugar

1/4 cup minced onion

2 tablespoons olive oil

2 tablespoons water

3 cloves garlic crushed

1 tablespoon apple cider vinegar

1 tablespoon tomato paste

1 tablespoon Worcestershire sauce

1 1/2 teaspoon liquid smoke

1 teaspoon dry mustard

1/2 teaspoon cayenne

fresh ground pepper to taste