In a saucepan add all the ingredients mentioned in the list.
Heat the saucepan on medium-high heat with stirring continuously.
Bring it to a boil and simmer for 5 minutes for thinner sauce ang 8 - 10 minutes for thick dipping sauce consistency.
Remove once reach the desired consistency.
Don't thicken too much during simmering. It will gradually thicken when cooled down.
Notes
For a dipping sauce, you may need a little thicker sauce than a sauce for marinade or brushing. So decide how long you need to simmer depending on how you are going to use it.For a thin sauce, I normally simmer for 2 - 5 minutes max after it comes to a boil. For a dipping sauce, you may simmer for 5 - 10 minutes. Or as per the consistency you need.