
Add peppers, garlic and shallots to a food processor and process until finely chopped.
Transfer to a pot and add olive oil. Heat to low and cook about 20 minutes, stirring occasionally. Add a bit more olive oil if needed. Do not burn the mixture.
Add seasonings and stir. Cook another 5 minutes or so to let flavors develop.
Cool and transfer to a food processor. Process until smooth.
Transfer to a jar and refrigerate! Use a spoonful at a time.