Place the olive oil in a saucepot over medium-high heat. Once it is hot, add the red onion, jalapeno peppers, and red bell pepper and sauté the herbs for 3-5 minutes until they begin to soften.
Add the garlic and cook for a minute until it becomes aromatic. Next, add the ketchup, brown sugar, apple cider vinegar, bourbon, Worcestershire sauce, Dijon mustard, paprika, salt, pepper, cayenne pepper, oregano, cumin, and red pepper flakes.
Bring the spicy BBQ sauce to a boil, then decrease the heat to medium-low and gently simmer it for10-15 minutes.
Place the spicy bbq sauce into a blender and puree it until the sauce is smooth and has a thick consistency.