Step 1: Place first 10 ingredients in a blender; process until smooth.
Step 2: Heat a large saucepan over medium-high heat. Add oil to pan; swirl to coat. Add tomato mixture. Bring to a boil; cook, stirring occasionally, until reduced to 2 cups, about 10 minutes. Place cornstarch in a small bowl, and add 2 teaspoon water; stir until smooth. Add cornstarch mixture to pan; cook 1 minute or until mixture thickens, stirring constantly.
Step 3: Cool completely. Cover and refrigerate up to 2 weeks.
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