My favorite BBQ sauce

I've been playing with this for about a year now, and everyone who has tried it loves it. Is great on everything I've tried it on.

Ingredients:

• 1 cup ketchup
• 1/4 cup water
• 1/4 cup vinegar
• 1/4 cup brown sugar
• 3 tablespoons olive oil
• 2 tablespoons paprika
• 1 tablespoon chili powder
• 2 cloves garlic, minced
• 1 teaspoon cayenne 
• 2 tablespoons mustard
• 2 tablespoons liquid smoke

Directions:
Heat oil in a saucepan. Add garlic and sauté until brown. Add remaining ingredients and reduce heat. Simmer for 15 minutes or until thickened. Adjust liquid smoke to taste, sometimes has taken a little more. Refrigerate for at least 24 hours for best flavor.