Warm olive oil in a heavy bottom pot, then saute finely diced red onion and minced garlic, until caramelized. Turn down heat and pour in red wine deglazing bottom of the pot, scraping up all of the browned bits. Stir intermittently until wine reduced by half. Add all remaining ingredients. Cover the pot and simmer until desired consistency achieved. Place into a food processor and puree. Set aside to cool.