Red Wine Reduction Sauce

Heat olive oil in a small saucepan over medium heat. Cook shallot in hot oil until golden brown, about 5 minutes.

Add wine into the saucepan; cook, stirring regularly, until reduced in volume by half, 3 to 4 minutes.

Stir in beef broth. Reduce heat to medium-low and cook at a simmer until slightly reduced, about 5 minutes.